unemployment, and relatively greater income equality, in contrast to the opposite path being pursued by the United States. While … structural shocks may initially create a positive tradeoff between productivity and unemployment, they set in motion a dynamic … theoretical contributions of this paper are to show how a productivity-unemployment tradeoff might emerge and how it might …

associated with structural unemployment and low productivity -- due to technological sclerosis' and a scrambling' of productivity … traditional unemployment cost is due to reduced productivity and is determined by the recession's cumulative effect on the economy …

about 5% over the business cycle, and is strongly negatively correlated with the unemployment rate. This pattern occurs …

separations, matching, and unemployment over the business cycle. Separating from employment when unemployment duration is long is … unemployment and unemployment durations. We examine wage cyclicality and employment separations over the past twenty years for …

This paper explains the divergent behavior of European and US unemployment rates using a job market matching model of … increase in real interest rates, and an increase in tax rates leads to a permanent increase in unemployment rates when the … replacement rates or initial tax rates are high, while no increase in unemployment occurs when institutions are 'employment …

This paper discusses the NAIRU -- the non-accelerating inflation rate of unemployment. It first considers the role of … influences both inflation and unemployment. The exact value of the NAIRU is hard to measure, however, in part because it changes … the NAIRU concept in business cycle theory, arguing that this concept is implicit in any model in which monetary policy …

This paper argues that hysteresis helps explain the long-run behavior of unemployment. The natural rate of unemployment … is influenced by the path of actual unemployment, and hence by shifts in aggregate demand. I review past evidence for … hysteresis effects and present new evidence for 20 developed countries. A central finding is that large increases in the natural …