single contract type. Calibrating our model to Spain, we find that unemployment fluctuates 21% more under duality than it … average unemployment rate.In our setup, employment grows gradually in booms, due to matching frictions, whereas the onset of a … the dual economy, and therefore decreases volatility. Unfortunately, it also raises unemployment; to avoid this …

This paper discusses various concepts of unemployment rate benchmarks that are frequently used by policymakers for … particular, we propose two broad categories of unemployment rate benchmarks: (1) a longer-run unemployment rate expected to … prevail after adjusting to business cycle shocks and (2) a stable-price unemployment rate tied to inflationary pressures. We …

This paper presents an average treatment effect analysis of Spain’s furlough program during the onset of the COVID-19 …, approximately 12 percentage points. Although this finding might alert against long lasting schemes under persistent recessions, this …

This paper analyses the potential impacts of introducing unemployment insurance (UI) in middle income countries using … unemployment and three employment sectors: formal and informal wage employment, and self employment. The parameters of the model … informal, formal and self employed workers. The results suggest that unemployment insurance would have only a modest negative …

The large-scale unemployment caused by the Great Recession has necessitated unprecedented increases in the duration of … unemployment insurance (UI). While it is clear that the weekly payments are beneficial to recipients, workers receiving benefits … changes in the distribution of unemployment benefit duration. We find that search activity is greater when a claimant's UI …

The paper presents a model that allows a unified analysis of sickness absence and search unemployment. Sickness appears … affect individual decisions on absence and search and the implications for employment, unemployment and nonparticipation. The …

The paper presents a tractable general equilibrium model of search unemployment that incorporates absence from work as …