000			01845nab#a2200277#c#4500
003			IEF
005			20180219161436.0
008			170626s2017 GBR|| #####0 b|ENG|u
040			_aIEF
041			_aENG
100	1		_aPapapetrou, Evangelia _965492
245			_aUnemployment, labour market institutions, fiscal imbalances and credit constraints _b new evidence on an active debate _c by Evangelia Papapetrou abd Pinelopi Tsalaporta
260			_c2017
500			_aResumen. Bibliografía.
650		4	_aDESEMPLEO _942613
650		4	_aMERCADO DE TRABAJO _947734
650		4	_aBALANZAS FISCALES _932248
650		4	_aCREDITO _941482
650		4	_aMODELOS ECONOMETRICOS _947776
520			_aUsing the Mortensen and Pissarides model of a labor market with frictions, this paper proposes a new method, simpler than the one presentedin Michaillat (2012), for decomposing unemployment into frictional and non-frictional(rationing) unemployment for a derived rigid wage-setting rule. We use it to compute the frictional and non frictional unemploymentrate for two economies characterized by different labor market institutions, namely the US and the Spanisheconomy. For the entireperiod under study, the US frictional unemployment rate is around 36 per cent of total unemployment, whereas for Spain, approximately 20per cent of all unemployment is due to frictions. This outcome may be explained by the fact that Spain is a country with more labor market rigidities than the US. The empirical results obtained with our method are also consistent with the main result of Michaillat (2012): in both countries, non-frictional unemployment increases in recessions.
700	1		_aTsalaporta, Pinelopi _965493
773	0		_tThe Manchester School _w120737 _gv. 85, n. 4, July 2017, p. 466-490
942			_cART
942			_z148197
999			_c64858 _d64858