educational type with high consumption value and low effort costs. This increases the skill mismatch and aggregate unemployment in …

This paper characterizes the optimal redistributive tax schedule in a matching unemployment framework where (voluntary …) nonparticipation and (involuntary) unemployment are endogenous. The optimal employment tax rate is given by an inverse employment …

This paper studies a two-region model in which unemployment, education decisions and interregional migration are … endogenous. The poorer region exhibits both lower wages and higher unemployment rates, and migrants to the richer region are … change reduces wages of the unskilled. Both education and migration decisions are distorted by a uniform unemployment …

The social norm of unemployment suggests that aggregate unemployment reduces the well-being of the employed, but has a … the appropriate distinction may not be between employment and unemployment, but rather between higher and lower levels of … regional unemployment. However, the insecure employed and the poor-prospect unemployed are less negatively, or even positively …

Status considerations with respect to consumption give rise to negative externalities because individuals do not take …