conventional measure of the unemployment rate (that is, the number of individuals who are not working at all and actively searching … working part time who want a full-time job) and the extent of hidden unemployment (that is, people who are not actively ….S. labor market slack and show that underemployment and hidden unemployment currently account for the bulk of the U …

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 …

-to-specific testing strategy reveals a recursive structure where only the unemployment rate and long-term interest rates are directly …

After an expansionary monetary policy shock employment increases and unemployment falls. In standard New Keynesian … models the fall in aggregate unemployment does not affect employed workers at all. However, Lüchinger, Meier and Stutzer … (2010) found that the risk of unemployment negatively affects utility of employed workers: An increases in aggregate …

unemployment on inflation, for given expected inflation, decreased until the early 1990s, but has remained roughly stable since …

document that large inflationary spikes appear to help unemployment to get back to pre-crisis levels. However, the counterpart …. This suggests that currency depreciation can help reduce unemployment only insofar as it is associated with inflation, and …

rigidity makes the economy prone to involuntary unemployment during external crises. This paper presents a graphical analysis …