Social networks, or “job-referral” networks, can help make labor markets become more efficient. Outside the firm, they help workers obtain employment after displacement and secure higher-paying jobs. They can also match highly-skilled workers to more productive employment. Inside the firm,...

We use individual data for Great Britain over the period 1992-2009 to compare the probability that employed and unemployed job seekers find a job and the quality of the job they find. The job finding rate of unemployed job seekers is 50 percent higher than that of employed job seekers, and this...

We use individual data for Great Britain over the period 1992-2009 to compare the probabilitythat employed and unemployed job seekers find a job and the quality of the job they find. Thejob finding rate of unemployed job seekers is 50 percent higher than that of employed jobseekers, and this...

The perception of job instability is an important measure of subjective well-being of individuals, because most people derive their income from selling their labour services. The study explores the determination of perception of job instability in Europe. The study is based on a large-scale...

According to Buchanan and Congleton (1998), the generality principle in politics blocks special interests. Consequently, the generality principle should thereby promote economic efficiency. This study tests this hypothesis on wage formation and labor markets, by investigating whether generality...

This paper re-examines the empirical validity of the hysteresis hypothesis in unemployment rates in terms of education level in 17 OECD countries. To this end for unbalanced panel, we employ Pesaran’s Cross Sectional Dependence (CD) and Cross-Sectionally Augmented ADF (CADF) tests. Our...

Edwards and Savastano (2000) survey on the equilibrium real exchange rate (RER) literature identify two important limitations: the lack of explicit derivation of flow and stock equilibrium variables as determinants of the equilibrium RER and the failure to allow for unemployment. This paper...

This paper sheds new light on the causes of the unemployment upsurge in Japan during the “fading 1990s”, an unprecedented period of structural crisis. We estimate a labor market model and identify the main macroeconomic determinants of labor demand and labor supply decisions in last decades....

Becoming unemployed has negative effects on life satisfaction; a transition from unemployment to employment, however, has only small positive effects. This asymmetry indicates a potential omitted variable bias in previous empirical happiness studies, with the consequence of underesti-mated...

This paper provides a critique of Faccini (2014) that allegedly shows that temporary contracts lead to lower unemployment in Europe. Using Faccini's data and his estimation methods, we show that the Fixed Effects estimation results collapse when we make slight alterations in the sample size or...