This paper develops a rational expectations model with multiple equilibrium unemployment rates where the price of … a permanent reduction in wealth and consumption and a permanent increase in the unemployment rate. My work suggests that …

which there are multiple equilibrium unemployment rates. The model has two equations in common with the new-Keynesian model …

unemployment rate. I show that the connection between changes in the stock market and changes in the unemployment rate has remained … unemployment. …

Central banks throughout the world predict inflation with new-Keynesian models where, after a shock, the unemployment …

2008-2009 crisis. This paper discusses the efficiency of this type of policy and investigates its impact on unemployment … unemployment during downturns. All in all, it seems that short-time work programs used in the recent downturn had significant …

of different job search methods, conditional unemployment benefit hikes can improve welfare when individuals are risk …

and the unemployment rate in U.S. data since 1929. Second, it compares a new model of the economy developed in recent …

return to one of the most important ideas to emerge from Keynes’ (1936) General Theory; that high involuntary unemployment …

labor market institutions are similar and their unemployment rates just before the crisis were both around 8%. Yet, in …This paper analyzes the strikingly different response of unemployment to the Great Recession in France and Spain. Their … France, unemployment rate has increased by 2 percentage points, whereas in Spain it has shot up to 19% by the end of 2009. We …

, unemployment and capital accumulation. First, we recover the partial equilibrium over-employment phenomenon put to the fore by …