able to generate fragile equilibria. For instance, in this literature the natural unemployment rate is allowed to shift … over time depending on past unemployment. Actually, many European unemployment series seem to exhibit a unit root or … persistence. This view is questioned in the paper using German data on unemployment. A new class of time-series models, the …

This paper starts from the observation that despite their very high levels of unemployment, major European countries … have devoted few resources to reducing it. This suggests that there is little political concern about high unemployment. I …

spirit of Blanchard and Summers (1988), the model can generate multiple equilibria, with a low-quits/high-unemployment … equilibrium coexisting with a high-quits/low-unemployment equilibrium. Under weak conditions, low-unemployment equilibria Pareto … dominate high-unemployment equilibria. Mobility premia improve aggregate welfare but may increase unemployment. …

Theoretical predictions of the impact of TFP growth on unemployment are ambiguous, and depend on the extent to which … creative destruction effects by estimating the impact of TFP growth on unemployment in a panel of industrial countries. We find …-state dynamics of unemployment. Capitalization effects explain some of the estimated impact but a part remains unexplained. …

. The Beveridge curve depicts the steady state of the model, whereby inflows into unemployment are equal to the outflows …

and by the need to reallocate workers across productive activities. The duration of unemployment and jobs and wage … policies on wages and unemployment. …

We present a static model of aggregate demand and unemployment. The economy has a nonproduced good, a produced good … prices as parameters. We obtain the following results: (1) unemployment and unsold production prevail in equilibrium; (2 … and reduce unemployment. …

We argue that US welfare would rise if unemployment insurance were increased for younger and decreased for older … workers. This is because the young tend to lack the means to smooth consumption during unemployment and want jobs to … accumulate high-return human capital. So unemployment insurance is most valuable to them, while moral hazard is mild. By …

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