This paper considers a simple model of self-fulfilling expectations that leads to a multiple equilibrium of gender gaps in wages and participation rates. Rather than resorting to moral hazard problems related to unobservable effort, like in most of the related literature, our model fully relies...

The Phillips curve has flattened in Spain over 1995-2006: unemployment has fallen by 15percentage points, with roughly constant inflation. This change has been more pronouncedthan elsewhere...