We argue that long-run inflation has nonlinear and state-dependent effects on unemployment, output, and welfare. Using … anticipated inflation and unemployment. Second, there is also a positive correlation between anticipated inflation and … unemployment volatility. Third, the long-run inflation-unemployment relationship is not only positive, but also stronger when …

We study the nonlinearities present in a standard monetary labor search model modified to have two groups of workers … facing exogenous differences in the job finding and separation rates. We use our setting to study the racial unemployment gap … two groups both in the level and volatility of unemployment. We show that the racial unemployment gap is counter …

The existing literature assumes that unemployment insurance (UI) affects the labor market through the job finding rate … analysis of optimal UI should take a more comprehensive view of how UI affects the labor market. …

the labor force, wage rates, and demographic conditions of both the U.S. and source-area economies through the 1980s. The …