inflation, strong real wage growth, and low rate of unemployment in the U.S. economy during the late 1990s. Many of these … univariate trends in the unemployment rate and in the rate of productivity growth, these coefficients are stable. This suggests … explanations of movements of wages, prices and unemployment over the 1990s, and indeed over the past forty years, must focus on …

unemployment exit rate and a small increase in the expected duration of unemployment. The effects on exits and duration are …In response to the Great Recession, the availability of unemployment insurance (UI) benefits was extended to an … individual exit from unemployment, and we compare the estimated impact with that for the prior extension of benefits during the …

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

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

We present a signalling theory of Quantitative Easing (QE) at the zero lower bound on the short term nominal interest …

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

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

We construct a utility-based model of fluctuations, with nominal rigidities and unemployment, and draw its implications … for the unemployment-inflation tradeoff and for the conduct of monetary policy.<br><br>We proceed in two steps. We first … unemployment in the constrained efficient allocation. We then focus on the implications of alternative real wage setting mechanisms …

New data compel a new view of events in the labor market during a recession. Unemployment rises almost entirely because … finding from new data is that a large fraction of workers departing jobs move to new jobs without intervening unemployment. I … of the high magnitude actually observed. In the standard theory developed over the past two decades, the wage moves to …