find a high degree of downward nominal wage rigidity, which for rates of inflation lower than three percent is shown to … lead to higher equilibrium unemployment via the generated real wage wedge. …

presence of downwardly rigid nominal wages, low inflation may lead to higher equilibrium unemployment by hindering real wage …Bei Vorliegen nach unten starrer Nominallöhne erschwert niedrige Inflation Reallohnanpassungen und führt so … möglicherweise zu erhöhter gleichgewichtiger Arbeitslosigkeit. Dieser Aufsatz analysiert die wachsende Evidenz zu nach unten starren …

unemployment. We show that the socially efficient incentive power of the equilibrium wage contract is constrained in the absence of … unemployment benefits. We then apply the model to explain the recent increase in performance-pay contracts. Within our model, this … factors is an increase in the equilibrium unemployment rate. …

We distinguish and assess three fundamental views of the labor market regarding the movements in unemployment: (i) the … that all the short-run fluctuations automatically turn into long-run changes in the unemployment rate. We assert the …

leads to constantly rising unemployment and tax rates. The resulting crisis may trigger new insights into economic …