We examine the effects of extracting monetary policy disturbances with semi-structural and structural VARs, using data …

This paper describes an equilibrium labour market in which an unemployment benefit system cannot raise the average … unemployment is high, but pays much lower rates in booms. By targeting unemployment compensation to recessions, when being … unemployed is particularly costly, this policy provides insurance equivalent to that provided by the current system. By reducing …

This essay presents a rigorous theory of involuntary unemployment in less developed countries based on the observation … involuntary unemployment in a market economy to the incidence of malnutrition and this in turn to inequality in the distribution …

episodes, destabilizing nominal exchange rate effects. Policy implications are discussed. …

and inflation cycles, but are not a major cause of fluctuations in financial and money markets. The theoretical and policy …