Labor market frictions are not the only possible factor responsible for high unemployment. Credit market imperfections … European and US unemployment differ so much when labor markets have become more similar at the margin in Europe and the US. To …

Unemployment may depend on equilibrium in other markets than the labor markets. This paper adresses this old idea by … effect of financial frictions on equilibrium unemployment is amplified by goods market frictions and vice versa. …

labor market institutions may sometimes favor physical and human capital investments in second-best environments. …

The Mortensen-Pissarides model with unemployment benefits and taxes has been able to account for the variation in … unemployment rates across countries but does not explain why geographical mobility is very low in some countries (on average, three … times lower in Europe than in the U.S.). We build a model in which both unemployment and mobility rates are endogenous. Our …

little employment protection and low unemployment benefits, while the European model (generous benefits and higher duration …

This paper contributes to the policy-relevant question whether self-employment is a way out of (long-term) unemployment …. We estimate the relationship between the entry rate into selfemployment and previous (long-term) unemployment on the … measurement errors induced by the pseudo panel structure. We find that previous (longterm) unemployment significantly increases …