, technical change, and a productivity slowdown. We derive the consequences for the skilled-to unskilled wage gap, unemployment …This paper develops a simple framework for examining human capital accumulation, unemployment, and relative wages in a …

unemployment-rate movements, labor-market reforms (that affected the NAIRU), and productivity developments on inflation. In line … despite declines in unemployment rates. For the United States, these seemingly contradictory developments have been reconciled … in terms of three factors: (1) an acceleration in productivity, (2) structural changes in labor markets that lowered the …

I examine whether the cyclical behavior of unemployment has changed over the post WWII period. Specifically, I test … whether cyclical movements in unemployment have become more persistent. Finding that they have, indeed, become more persistent … payroll employment as well as unemployment and that increased persistence appears to be widespread across industries. At the …

it generates less than 10 percent of the observed business cycle fluctuations in unemployment given labor productivity …Shimer (2005) argues that the Mortensen-Pissarides (MP) model of unemployment lacks an amplification mechanism because … shocks of plausible magnitude. This paper argues that part of the problem lies with the identification of productivity shocks …

This paper presents a search model of unemployment with a new mechanism of job separation based on firms' demand … about unemployment that the Mortensen-Pissarides (1994) model has difficulties explaining jointly: (i) the unemployment …-vacancy correlation is negative, (ii) the contribution of the job separation rate to unemployment fluctuations is small but non …

Great Recession. According to the model the observed fall in total factor productivity and the rise in the cost of working …

response to changes in the unemployment rate. This paper offers a theoretical justification for such a nonlinear policy rule …

offset by extra unemployment; so the minimum wage increases the Non-Accelerating Inflation Rate of Unemployment or NAIRU …

This paper presents new empirical evidence on the cyclical behavior of US unemployment that poses a challenge to … standard search and matching models. The correlation between cyclical unemployment and the cyclical component of labor … productivity switched sign in the mid 80s: from negative it became positive, while standard search models imply a negative …