This paper offers a reappraisal of the inflation-unemployment tradeoff, based on "frictional growth" describing the … these shocks also generate plausible impulse-responses for unemployment. Although our theory contains no money illusion, no …

-run inflation-unemployment tradeoff. …

Labor market frictions are not the only possible factor responsible for high unemployment. Credit market imperfections … European and US unemployment differ so much when labor markets have become more similar at the margin in Europe and the US. To …

such as unemployment. Previous studies indicate that monetary policy affects the output gap only at business cycle … frequencies, but the effects on unemployment may well be more persistent in countries with highly regulated labor markets. We … study the Swedish experience of unemployment and monetary policy. Using a structural VAR we find that around 30 percent of …

model, covering a panel of EU countries, and derives the implied long-run inflation-unemployment tradeoff. Our results …

unemployment rates. Using the Spanish Time Use Survey 2002-2003 and 2009-2010, we find that higher regional unemployment rates are … channel through which others' unemployment affects time allocation decisions of the unemployed. As higher regional … unemployment rates imply a lower availability of jobs for the unemployed, it decreases the expectations individuals have of finding …

sector, high unemployment for educated youth, weak private sector dependent on government welfare for their survival, rapid …