-run concept like the natural rate of unemployment. We examine what effect uncertainty has on the use of NAIRU in policy …

examine U.S. time series and find that, as the model predicts, unemployment fluctuations are associated with both inflation …

States, Canada, Germany, and several other OECD countries during and after the Great Recession of 2008-09. Unemployment rates … increased moderately in Canada. More recent data also show that, unlike Germany and Canada, the U.S. unemployment rate remains …

This paper studies the connection between the stock market and the unemployment rate. I establish three facts. First …, the log of the real value of the S&P 500 and the log of a logistic transformation of the unemployment rate are non …-stationary cointegrated series. Second, the stock market Granger causes the unemployment rate. Third, the connection between changes in the …

This paper presents a theory of the monetary transmission mechanism in a monetary version of Farmer's (2009) model in … which there are multiple equilibrium unemployment rates. The model has two equations in common with the new-Keynesian model …

model labor market frictions and unemployment explicitly. The present paper describes some of the essential ingredients and …

rigidity makes the economy prone to involuntary unemployment during external crises. This paper presents a graphical analysis …