labor input, but it predicts a strong counterfactually negative long run relationship between inflation and unemployment … negative long run relationship between trend inflation and unemployment provides indirect evidence against the proposed …

measure construction and technology busts) have little effect on the natural rate of unemployment or on long run productivity … of unemployment and can count for a 0.5% rise in cyclical unemployment from 2007 through the end of 2009 and 0.3% through …

stochastic volatility model of sectoral employment growth. Reallocative shocks have no effect on the natural rate of unemployment … the rise in trend unemployment in Germany in the 1980s or for a possible rise in trend unemployment in the United States …

the unemployment rate. I show that a simple frictionless business cycle model with heterogeneity and a simple form of on … employment growth. Worker flows are related to both employment growth and the unemployment rate, and quits and hires are …-the-job search, and quits beget hires to replace quitters. High unemployment crowds out quits, shortens the hiring chain, reduces the …

rate and the unemployment rate? In the model, fluctuations are prominently driven by productivity shocks which are commonly … replicates the conditional volatility of job finding and unemployment, so that the Shimer critique does not apply. Instead the … shocks lead to a fall in job finding and an increase in unemployment thereby opposing the dynamics in the standard model …

We investigate the controversial issue whether unemployment is related to productivity growth in the long run, using U …. Therefore the secular decline of unemployment since the mid 1990s indeed stemmed from higher average productivity growth. The …

Standard macroeconomic models underpredict the volatility of unemployment fluctuations. A common solution is to assume … jobs. This form of wage rigidity does not affect job creation and thus cannot explain the unemployment volatility puzzle. …