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

policymakers underestimate both the natural rate of unemployment and the persistence of inflation in the Phillips curve. I estimate … the model using likelihood methods. The estimation results show that the model accounts remarkably well for the evolution … of policymakers' beliefs, stabilization policy and the postwar behavior of inflation and unemployment in the United …

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 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 …