with different equilibria descriptive of the labor markets in Spain and France, where the unemployment rates went from the … unemployment rate in Spain has jumped to much higher levels while switching between equilibria or, what is the same, because of …

heterogeneity into account. Our results indicate that participation in JCSs increases the unemployment duration mainly due to … leave unemployment quicker than other groups, which results in highly skilled women benefiting from participation. However …, we find no significant impact on post-unemployment employment stability. Our results are robust to allowing for random …

. Additional results, however, suggest that female and highly skilled participants leave unemployment quicker than other groups …

biographies, we estimate the model and decompose welfare costs. We find that unemployment is a small factor: Higher wages and job …