This paper explicitly differentiates between unemployment and inactivity, by defining inactivity as a state in which … labor market states. In steady-state, we hence have a theory of equilibrium unemployment determined by both matching … of large flows between employment, unemployment and inactivity. Secondly, it shows that unemployment and aggregate wages …

little employment protection and low unemployment benefits, while the European model (generous benefits and higher duration …

not efficient. Inflation is detrimental to unemployment. …This paper builds a macroeconomic model of equilibrium unemployment in which firms persistently face difficulties in …, equilibrium unemployment is a U-shaped function of the ratio of total demand to total supply on this market. When prices are at …

This paper tests whether aggregate matching is consistent with unemployment being mainly due to search frictions or due … with reference to the design of optimal unemployment insurance programs. …

increasing the number of workers embedded in the social networks can increase the unemployment rate and decrease workers welfare …

, selective survey of the literature. Four fundamental questions are explored: how are unemployment, job vacancies, and employment …

high volatility of most of the key variables, the negative co-variation of unemployment and vacancies, and the behavior of …