equilibrium unemployment with an underground sector. More precisely, from a social welfare standpoint, two options are available …

matching model, thus providing a possible explanation for the unemployment volatility puzzle. …

-called “shadow puzzle”, with the possibility that tougher monitoring may reduce both the hidden sector and unemployment. If …

Economic growth and unemployment exhibit an ambiguous relationship – according to empirical studies. This ambiguity can …, unemployment may be absorbed by underground firms, which adopt backward technology, at the cost of reduced economic growth …. Alternatively, unemployment diminishes because productivity grows by employing workers who prefer to become skilled, and thus not to …

The negative and stable relationship between an economy’s aggregate demand conditions and overall unemployment is well …-documented. We show that there is a large degree of heterogeneity in the cyclical sensitivities of unemployment across worker and … economy groups. First, unemployment is more than twice as sensitive to aggregate demand in advanced as in emerging market and …

proceedings outstanding against them. We employ a set of explanatory variables including long-term unemployment, socially excluded … the prevalence of debt enforcement proceedings, while long-term unemployment, the number of socially excluded localities …

This paper develops a search and matching model of equilibrium unemployment, with on-the-job search, extended to both … large, an increase in labour market tightness increases the unemployment rate and then the ‘vacancies-unemployment …