evolution of the labor share, the profit rate, the capital/output ratio, and unemployment--which we examine more particularly in …

the creation and destruction margins. KEY WORDS: Business Cycle, Unemployment, Inefficient Separations, Job Creation and …

institutional arrangements play in facilitating transactions and explore the macroeconomic consequences of poor institutions. As an … application, we discuss the lessons that can be learnt from observed changes in the nature of unemployment in Europe. We then …

associated with structural unemployment and low productivity--due to technological "sclerosis" and a "scrambling" of productivity … traditional unemployment cost is due to reduced productivity and is determined by the recession's cumulative effect on the economy …