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

identification strategies used, critically assess strengths and weaknesses, discuss connections with theory, and draw out potential …

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

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 …

pay and the local unemployment rate -- in modern U.S. data. Consistent with recent evidence from more than 40 other …'s theoretical framework: (i) wages are higher in states with more generous unemployment benefits, (ii) the perceived probability of … job-finding is lower in states with higher unemployment, and (iii) employees are less happy in states that have higher …

regional (or industry) unemployment. This "wage curve" is estimated using microeconomic data for Britain, the US, Canada, Korea …, Austria, Italy, Holland, Switzerland, Norway, and Germany, The average unemployment elasticity of pay is approximately -0 …