institutions pre-date the rise in unemployment. Based on a panel of institutions and shocks for 20 OECD nations since 1960, we find … same size shock has differential effects on unemployment when labor market institutions differ. We interpret this as …Two key facts about European unemployment must be explained: the rise in unemployment since the 1960s, and the …

We construct a utility-based model of fluctuations, with nominal rigidities and unemployment, and draw its implications … for the unemployment-inflation tradeoff and for the conduct of monetary policy.<br><br>We proceed in two steps. We first … unemployment in the constrained efficient allocation. We then focus on the implications of alternative real wage setting mechanisms …

relations have experienced higher unemployment. This conclusion remains even after controlling for labor institutions …In countries where wages are primarily set by collective bargaining, the effects on unemployment of changes in the … relations. In this paper, we examine the role this quality of labor relations has played in the evolution of unemployment across …

unemployment on inflation, for given expected inflation, decreased until the early 1990s, but has remained roughly stable since …