with different equilibria descriptive of the labor markets in Spain and France, where the unemployment rates went from the … unemployment rate in Spain has jumped to much higher levels while switching between equilibria or, what is the same, because of …

cover pandemics have a change in trend and persistence in growth, and in level and persistence in unemployment. We find that … in recent times seem to have a permanent effect on growth. Moreover, our results show that the unemployment rate …

unemployment due to labor market frictions. Bayesian estimates for the model quantify the effects of both business cycle shocks and … structural changes on the unemployment rate. Applying our model to the Australian economy, we find that the persistent rise in … on unemployment due to sectoral shifts. However, this Dutch Disease effect is estimated to be quantitatively small and …