This paper explains the divergent behavior of European and US unemployment rates using a job market matching model of … increase in real interest rates, and an increase in tax rates leads to a permanent increase in unemployment rates when the … replacement rates or initial tax rates are high, while no increase in unemployment occurs when institutions are 'employment …

This paper explains the divergent behavior of European and US unemployment rates using a job market matching model of … increase in real interest rates, and an increase in tax rates leads to a permanent increase in unemployment rates when the … replacement rates or initial tax rates are high, while no increase in unemployment occurs when institutions are 'employment …

This paper explains the divergent behavior of European an US unemployment rates using a job market matching model of … increase in real interest rates, and an increase in tax rates leads to a permanent increase in unemployment rates when the … replacement rates or initial tax rates are high, while no increase in unemployment occurs when institutions are "employment …