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

despite declines in unemployment rates. For the United States, these seemingly contradictory developments have been reconciled … natural unemployment rate (NAIRU), and (3) improved credibility of monetary policy. Here we ask whether comparable factors … between inflation, the unemployment rate, and structural factors using an extended Phillips curve model with quarterly data …

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 …

Shimer (2005) argues that the Mortensen-Pissarides (MP) model of unemployment lacks an amplification mechanism because … it generates less than 10 percent of the observed business cycle fluctuations in unemployment given labor productivity … correctly identify the shocks driving unemployment. Using a New-Keynesian framework to control for the endogeneity of …

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 …

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 …