Lechthaler, Wolfgang; Tesfaselassie, Mewael F. - 2021
labor market and skill obsolescence from long-term unemployment. The model can account for key features of the Great … Recession: a decline in productivity growth, the relative stability of inflation despite a pronounced fall in output (the …We embed human capital-based endogenous growth into a New-Keynesian model with search and matching frictions in the …