Using household level data for France from 1990 to 2000, we estimate a relationship between wages and unemployment … large between 1996 and 2000 and undoubtedly contributed strongly to the exceptional employment performance during that …

We propose a theory of low-frequency movements in unemployment based on asymmetric real wage rigidities. The theory … generates two main predictions: long-run unemployment increases with (i) a fall in long-run productivity growth and (ii) a rise …-run unemployment over the 1980s and its rise during the late 2000s. …

This paper develops a general equilibrium model with unemployment and noncooperative wage determination to analyze the … importance of incomplete markets when risk-averse agents are subject to idiosyncratic employment shocks. A version of the model … and unemployment but increases vacancies. Additionally, the model explains the average level of unemployment insurance …