loss, they also increase costs for employers and distort employment decisions. The impact of severance payments depends … largely on how much of the costs to employers can be shifted to workers. The theoretical analysis in this Paper shows that, in … costs to workers in the form of lower wages. Empirical results using the Colombian National Household Surveys indicate that …

, unemployment and capital accumulation. First, we recover the partial equilibrium over-employment phenomenon put to the fore by …

responsiveness of the unemployment rate to changes in macroeconomic variables. Most importantly, private information increases the … responsiveness of the unemployment rate to changes in the general (type- and effort independent) productivity level. If the changes … also affect the information structure, the responsiveness of the unemployment rate may be large, even if the changes in …

macroeconomic framework to show how optimal monetary policy rules depend on labour institutions (labour adjustment costs, and … those that affect the long-run unemployment rate. …

Spain and Portugal are two neighbour economies which share many characteristics. Spanish unemployment is more than … double Portuguese unemployment, however. In this chapter we resort to Structural Vector Autoregression (SVAR) techniques to …, their effects on unemployment were much more long-lasting in Spain than in Portugal. …