Three well-known aggregate regularities (i.e. Beveridge, Wage, and Okun's curves) seem to provide a quite complete picture of the interplay between labor market macro-dynamics and business cycle. Nevertheless, existing theoretical literature still lacks micro-founded models which are able to...

Three well-known aggregate regularities (i.e. Beveridge, Wage, and Okun's curves) seem to provide a quite complete picture of the interplay between labor market macro-dynamics and business cycle. Nevertheless, existing theoretical literature still lacks micro-founded models which are able to...

In Europe, high and persistent unemployment is usually attributed entirely to "labor market rigidity". The only remedy seriously discussed is deregulation of the labor market. This essay argues that there are two further sources of high unemployment in Europe: over-regulation and weakness of...

Im vorliegenden Aufsatz werden die Gründe für den Unterschied zwischen den Arbeitlosenquoten in Europa und den Vereinigten Staaten erläutert. Nach Solow ist die Ursache der Arbeitslosigkeit nicht allein die Arbeitsmarktrigidität in Europa, sondern ebenfalls die geringe Nachfrage nach Arbeit,...

This paper examines the role of fiscal policies in the dynamics of the labor market. Through the lenses of Okun's Law, we assess how fiscal policy instruments as well as fiscal consolidation and expansion episodes affect labor market outcomes. Using a panel of 34 OECD countries over the period...

The construction bust which accompanied the Great Recession, and the accompanying need to shift workers across sectors, have provoked a discussion about mismatch and the Beveridge Curve, alongside a discussion about firm-level dispersion. These discussions echo an ongoing discussion about the...