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- December 2006
- Article
Europe vs America: Institutional Hysteresis in a Simple Normative Model
By: Rafael Di Tella and Robert MacCulloch
We show how the differences in US and European institutions can arise in a normative model. The paper focuses on the labor market and the government's decision to set unemployment benefits in response to an unemployment shock. The government balances insurance...
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Keywords:
Optimal Unemployment Benefits;
Labor Market Institutions;
Hysteresis;
Europe;
United States
Di Tella, Rafael, and Robert MacCulloch. "Europe vs America: Institutional Hysteresis in a Simple Normative Model." Journal of Public Economics 90, no. 12 (December 2006): 2161–86.
- 2000
- Working Paper
Rational Institutions Yield Hysteresis
By: Rafael Di Tella and Robert MacCulloch
Di Tella, Rafael, and Robert MacCulloch. "Rational Institutions Yield Hysteresis." Harvard Business School Working Paper, No. 01-037, December 2000.