Standard models of equilibrium unemployment assume exogenous labour market institutions and flexible wage determination. This paper models wage rigidity and collective bargaining endogenously, when workers differ by observable skill and may adopt either individualized or collective wage...

High levels of employment protection reduce hiring and firing and have a theoretically ambiguous effect on the employment level. Immigrants, being new to the labor market, may be less aware of employment protection regulations and less likely to claim their rights, which may create a gap between...

The concept of Flexicurity has been receiving much attention as the European social model. One of the most important concepts within the flexicurity approach is employment security, the security of having secure and continuous employment career, which may entail changing employers and jobs. How...

Flexicurity represents a concept that aims at enhancing both labour market flexibility and employment and income security. The European Union has picked up this concept in its European Employment Strategy, inspired by developments in a number of its member states. This paper describes the way...

High levels of employment protection reduce hiring and firing and have a theoretically ambiguous effect on the employment level. Immigrants, being new to the labor market, may be less aware of employment protection regulations and less likely to claim their rights, which may create a gap between...

This model explains the self-selection of workers between workplaces which differ in the return to workers' skill and the level of job security. Incomplete information in the market enables the reallocation-process in which each worker chooses her best job. The model also clarifies the...

One of the key institutional outcomes of China’s economic reforms has been to create a new role for employers that is separate from the state, and allows enterprises to concentrate on their business. To protect workers, the government has set up public institutions for many social and...

Poverty and income inequality have worsened since the onset of the crisis. While the design of fiscal measures has mitigated the burden sharing of fiscal adjustment, as the recession has deepened unemployment has risen, earnings have declined and social tensions have increased. Getting people...

Many western industrialized countries face strong budgetary pressures due to the aging of the baby boom generations and the general trends toward earlier ages of retirement. The authors use the American PSID and the European Community Household Panel (ECHP) to explain differences in prevalence...

In this paper we study the contribution of inflows and outflows to the dynamics of unemployment in three European countries, the United Kingdom, France and Spain. We compare performance in these three countries making use of both administrative and labor force survey data. We find that the...