Current economic developments in Portugal do not portend well. The Portuguese GDP is shrinking and the growth forecast for 2012 is gloomy - in the EU only the forecast for Greece is even worse (Figure 1). Moreover, Portugal is now having to pay double-digit interest rates on its bonds, its debt...

This paper investigates the reservation wages of unemployed persons on the basis of a job-search model with non-static reservation wages using panel data from Germany from 1987 to 1998. The results suggest that reservation wages are relatively high in Germany compared to other countries....

This paper investigates the reservation wages of unemployed persons on the basis of a job-search model with non-static reservation wages using panel data from Germany from 1987 to 1998. The results suggest that reservation wages are relatively high in Germany compared to other countries....