finds that introducing LMRs and PMRs simultaneously would add about 2.5 percentage points (pp) of GDP growth and reduce … unemployment by about 2.2 pp after five years. If sequencing is required, starting with PMRs would be more effective in boosting … output, while starting with LMRs would reduce unemployment faster. Finally, increasing unemployment benefits would be more …

the result of low TFP and thus GDP growth-not the cause …

After impressive growth in the 2000s, China's productivity has more recently stagnated. We use firm-level data to …'s business dynamism. We show that (i) the revenue share of young firms has declined, (ii) the life-cycle growth of young firms … relative to older incumbents has slowed, (iii) weaker life-cycle growth can be explained by slower productivity growth and …

of the unemployment-vacancies relationship (the Beveridge curve). We show that the direction of the shift depends on the … parameters of the matching model, regardless of the assumptions made on the relative search effectiveness of employed and … unemployment effects. We find evidence that the rise in on-the-job search in the 1980s has shifted the Beveridge Curve outwards …

where aggregate shocks have a permanent effect on the unemployment rate. If agents' wealth decreases, the unemployment rate … increases for a potentially indefinite period. This makes unemployment rate dynamics path dependent as in Blanchard and Summers … (1987). I argue that this feature explains the persistence of the unemployment rate in the U.S. after the Great Recession …

employs the same or another worker, the vacancy rate increases and the unemployment rate declines. However, the scheme …

, labor market matching efficiency, and labor market policies are associated with the incidence of long-term unemployment …While unemployment rates in Europe declined after the global financial crisis until 2018/19, the incidence of long …-term unemployment, the share of people who have been unemployed for more than one year to the total unemployed, remained high. Moreover …