unemployment rate. I show that the connection between changes in the stock market and changes in the unemployment rate has remained … unemployment. …

spirit of Blanchard and Summers (1988), the model can generate multiple equilibria, with a low-quits/high-unemployment … equilibrium coexisting with a high-quits/low-unemployment equilibrium. Under weak conditions, low-unemployment equilibria Pareto … dominate high-unemployment equilibria. Mobility premia improve aggregate welfare but may increase unemployment. …

cycle fact: expansions and contractions in output are equally brief and violent but contractions in employment are briefer … and more violent than expansions. The difference arises because employment typically lags output around peaks but both …

This paper develops a political economy model of multiple unemployment equilibria to provide a theory of an endogenous … natural rate of unemployment. This model is applied to the UK and the US interwar period which is remembered as the decade of … mass unemployment. The theory here sees the natural rate and the associated path of unemployment as a reaction to shocks …

Monetary policy affects both real variables, such as employment, unemployment and output and nominal variables such as …

This paper considers an equilibrium model of unemployment in a labour market where all vacancies are advertised in a … newspaper. Unemployment occurs in occupations that are short on vacancies. New vacancies are created by entrepreneurial search … unique rational expectations equilibrium is shown to exist. The unemployment-vacancy dynamics are consistent with so …

Theoretical predictions of the impact of TFP growth on unemployment are ambiguous, and depend on the extent to which … creative destruction effects by estimating the impact of TFP growth on unemployment in a panel of industrial countries. We find …-state dynamics of unemployment. Capitalization effects explain some of the estimated impact but a part remains unexplained. …

. The Beveridge curve depicts the steady state of the model, whereby inflows into unemployment are equal to the outflows …

leads to constantly rising unemployment and tax rates. The resulting crisis may trigger new insights into economic …