consumption changes in the US over the period 1952-2001. Theoretically, the effect of labour income risk on consumption changes is …We investigate the importance of aggregate and consumer-specific or idiosyncratic labour income risk for aggregate … aggregate labour income shocks and individual risk is modelled as an unobserved component and obtained through Kalman filtering …

able to take into account consumption dynamics. In the model, households derive utility from consumption, and they relate … their purchase behavior to consumption planning. We illustrate our model for yogurt purchases, and show that our model …

We investigate experimentally the economic effects of wage taxation to finance unemployment benefits for a closed … the dynamic interaction between the wage tax and unemployment. (ii) Employment is boosted by budget deficits but …

We provide a set of comparable estimates for the rates of inflow to and outflow from unemployment using publicly … available data for fourteen OECD economies. We then devise a method to decompose changes in unemployment into contributions … accounted for by changes in inflow and outflow rates for cases where unemployment deviates from its flow steady state, as it …

In the past decades several features of U.S. unemployment dynamics have been investigated empirically. The original … focus of research was on the duration of unemployment. In later studies the cyclicality of incidence and duration …, compositional effects and duration dependence of the exit rate out of unemployment have been investigated. Unlike the partial …

by investments in R&D performed in the high-wage sector. Unemployment is determined by the costs and benefits of waiting … for a high-paid job. The wage structure, growth, and unemployment are shown to depend on the way effort is extracted. …

. This model yields a simple relationship between (i) the unemployment rate, (ii) the value of non-market time, and (iii) the … and allow for measurement error. The estimated wage dispersion for the US is consistent with an unemployment rate of 4 …