This paper studies the impact of informality on the long-run relationship between inflation and unemployment in … money and credit coexist. An increase in inflation affects unemployment through two channels: the entry channel (size) and … entry and increasing unemployment. On the other hand, it shifts firms hiring decision from high separation informal jobs to …

From the early 1990s through the peak of the last business cycle, relatively low U.S. unemployment rates seemed to make … (OECD), the International Monetary Fund (IMF), and other international organizations all praised the U.S. unemployment … shows that in the current economic crisis, the U.S. unemployment rate ranks 4th to last among the major OECD countries. …