This paper reviews a new framework for analyzing the interrelationship between inequality, unemployment, labor market …. It implies that the opening of trade may raise inequality and unemployment, but always raises welfare. Unilateral … reductions in labor market frictions increase a country's welfare, can raise or reduce its unemployment rate, yet always hurt the …

inequality and raises unemployment, but expected welfare gains are ensured if workers are risk neutral. And while wage inequality …

conclusions: Unemployment is not a serious problem for the vast majority of teenage boys. Less than 5 percent of teenage boys are … do seek work, unemployment spells tend to be quite short; over half end within one month when these boys find work or … stop looking for work. Nevertheless, much of the total amount of unemployment is the result of quite long spells among a …

This short note emphasizes and illustrates two basic points: (1) The private costs of unemployment, i.e., the costs … cause of the permanently high unemployment rate in the United States. (2) The social costs of unemployment, i.e., the costs … of unemployment to the nation as a whole regardless of how they are distributed, must be judged by considering the …

consistent with increasing inequality in every country, growth in residual wage inequality, rising unemployment, and reallocation … within and between industries. While the opening of trade yields welfare gains, unemployment and inequality within sectors … nonmonotonic effects on unemployment and inequality within sectors. As aggregate unemployment and inequality have within- and …

market frictions. We characterize the distributions of employment, unemployment, wages and income within and between sectors … as a function of structural parameters. We find that greater firm heterogeneity increases unemployment, wage inequality … frictions have non-monotonic effects on aggregate unemployment and inequality through within- and between-sector components …