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ALMP as a transition
Heterogeneity and policy for
1 other sections not shown
Active Labour Market aggregate substitution effect ambiguity assistance and wage assume Bellman equations Calmfors and Forslund competition and utility CORNELL UNIVERSITY LIBRARY D.Puga deadweight effect on labour effectiveness of policy efficiency wage elasticities employers estimates exit rate workers expected present discounted expiry firm flow equilibrium Hence high and low high exit rate hired increasing outflow rates inflow into unemployment initial exit rate Jackman job creation job search assistance Labour Market Policy Layard long-term unemployed long-term unemployment low exit rate macroeconomic model policy Modelling wage subsidies negative duration dependence OECD P.Gregg J.Wadsworth period of unemployment policy effectiveness policy is targeted present discounted value reduce aggregate unemployment relative outflow rate Section self-employment separation rate Shapiro-Stiglitz shirking short-term unemployed short-term unemployment subsidised workers subsidy-expired worker target group target the long-term term unemployed transition unemployed person unemployed workers union bargaining unsubsidised utility effects utility function w=b+e+ whilst workers have initial yields