A new model of unemployment based on an idea of Marx is presented and used to interpret the development of the British … economy from the beginning of capitalism to the present. It is shown that unemployment may be created purposely by capitalists … unemployment and can explain why wages took almost a century and a half to react to the growing capital to labour ratio that …

disequilibrium unemployment. For the three standard ways of generating savings, the framework makes clear how capital growth depends … we analyze the long run relationship between growth and unemployment for some standard wage setting rules: constant real … wages, rules that imply a constant unemployment rate and rules with inertia on wages and labor incomes, paying special …

distribution of firm characteristics, sorting patterns between firms and workers, and unemployment rates that can help explaining …

education groups, and the increase in unemployment at all levels of education. In contrast, in previous literature this type of … overeducation is key to understand the response of unemployment to the technology shock. …

We estimate and report life-cycle transition probabilities between employment, unemployment and inactivity for male and … explaining the life-cycle profiles of participation and unemployment rates using a novel decomposition method. A key robust … finding is that most differences in participation and unemployment over the life-cycle can be attributed to the probability of …