equities, we examine equilibrium unemployment. While a mechanism of an efficiency wage brings about nominal wage rigidity …, unemployment occurring in our model definitely has Keynesian features. For instance, a reduction in wages rather enhances … unemployment through a decrease in consumption. In addition, our paper shows a possibility of Pareto improvement through an …

unemployment persistence. …

In this paper, we focus on and examine the empirical evidence of non- linearity in aggregate Canadian unemployment … reject the null hypothesis of a linear structure for Canadian unemployment. …

We calibrate an infinite-horizon model with endogenous growth and unemployment on actual data from the largest … taxes when financed either raising capital taxation or reducing unemployment subsidies. We find two main results: (i) with … lump-sum transfers, reducing labor taxes and unemployment subsidies is beneficial to both employment and growth, while …

Keynes (1936) said that shortage of money caused by hoarding or failure to invest led to unemployment, but Lucas (1972 …) said that money does not affect unemployment. The tables have now turned. Gani (2003) produced a model of indirect trade in … which money is necessary as a means of payment. Involuntary unemployment occurs under indirect exchange, just when the …

The framework of a general equilibrium heterogeneous agent model is used to study the optimal design of an unemployment … insurance (UI) scheme and the voting behaviour on unemployment policy reforms. In a first step, the optimal defined benefit and …