by reducing real wages below levels allowed by technological growth, changes in the unemployment rate, and institutional …

-run (noncyclical) unemployment rate in Germany by 1.4 percentage points. We also find that the welfare of employed households increases … German unemployment insurance system and resulted in a significant reduction in unemployment benefits for the long …-term unemployed. In this paper, we use an incomplete-market model with search unemployment to evaluate the macro-economic and welfare …

We study the role of uncertainty shocks in explaining unemployment dynamics, separating out the role of aggregate and … measure aggregate and sectoral uncertainty and compare their effects on the unemployment rate in a standard macroeconomic … vector autoregressive (VAR) model. We find that aggregate uncertainty leads to an immediate increase in unemployment, with …

significantly reduce poverty and unemployment. Growth averaged 3 percent over the last decade. It has been volatile because of the …

labor market can coexist with a generous welfare system to achieve low unemployment. Using a panel of 19 countries over 1960 …-2002, the paper identifies the elements of the flexicurity model that may have contributed to the low unemployment rate. A … the financing aspect, the paper finds that effective implementation will depend on the initial unemployment level and …

elderly labor force participation and youth unemployment. From a theoretical point of view, there is no convincing argument …

EPL discourages both. The overall impact on equilibrium unemployment is thus ambiguous, depending on the characteristics … destruction effect is stronger, thus raising the unemployment rate. …