labor market to compare unemployment insurance (UI) expansions and payroll subsidies. In isolation, payroll subsidies that …

labor market to compare unemployment insurance (UI) expansions and payroll subsidies. In isolation, payroll subsidies that …

This paper develops a model with multiple steady states (low tax and unemployment rate versus high tax and unemployment … European unemployment rates observed during the seventies. The explanation given is that even if the unemployment rate would … job creation remains low making the return to a low unemployment rate impossible. The paper shows that in some cases …

This paper shows how fiscal policy affects unemployment in a New Keynesian model with search and matching frictions and …. Several findings stand out. First, unemployment mult ipliers for spending and consumption tax cuts are substantial, even …

. Consequently, entrant workers have lower job-finding rates and longer unemployment durations than the unemployed who have looked …

vacancy subsidy, a layoff tax and unemployment benefits. We derive analytical expressions for the optimal setting of each of … replacement rate of unemployment insurance should all rise in recessions. We find this confirmed in a calibration targeted to the …

, Germany, and the United Kingdom, we document striking similarities in spatial differences in unemployment, vacancies, job … quantitatively rationalizes why differences in job-separation rates have primary importance in inducing differences in unemployment … across space while changes in the job-finding rate are the main driver in unemployment fluctuations over the business cycle. …

, Germany, and the United Kingdom, we document striking similarities in spatial differences in unemployment, vacancies, job … quantitatively rationalizes why differences in job-separation rates have primary importance in inducing differences in unemployment … across space while changes in the job-finding rate are the main driver in unemployment fluctuations over the business cycle. …

, instead, favors unemployment-centric policy. One- and two-agent alternatives can show unanimous disapproval of inflation …