The paper presents a new empirical regularity between the volatility of productivity growth and long-run unemployment … shown to have the potential to rationalize this finding. The model tends to fit U.S. long-run unemployment better than a …

wage change is positively correlated with the unemployment rate and with the consumer price inflation rate …

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 …

unemployment and vacancies. Following suggestions by Robert Hall and Robert Shimer, this paper shows that a relatively standard … simulate moments of an artificial economy with and without sticky wages and we document the dependence of unemployment and …

interpretation for the dynamic inflation--unemployment relation found in the data …

a burst of layoffs. Unemployment rises because jobs are hard to find, not because an unusual number of people are thrown … into unemployment …

The standard theory of equilibrium unemployment, the Mortensen-Pissarides search and matching model, cannot explain the … magnitude of the business cycle fluctuations in two of its central elements, unemployment and vacancies. Modifying the model to … make the present value of wages unresponsive to current labor market conditions amplifies fluctuations in unemployment and …

advantage of the workers' induces higher unemployment in equilibrium. The upshot is a long run tradeoff between inflation and … unemployment for low levels of inflation. The prediction that low inflation involves higher unemployment in Europe but not in the …

the unskilled. By contrast, in Europe it is undoubtedly the rise and persistence of unemployment. Technology has been … European unemployment. This paper seeks to provide a unified account of these major factor market developments. It models the … impact of technical change on relative wages and unemployment in a world in which one country has flexible and the other …

unemployment benefits …