, with the result that too few hires are made in bad states of the world. Unemployment is involuntary. In an extension to the …

downward rigidity, and magnifying the response of unemployment to negative shocks. We also consider layoffs and show that for a …

small reduction in the unemployment benefits, or introducing a small cash bonus for workers that get a new job, may have no … e.ect on unemployment in some cases, while eradicating significant levels of unemployment in other cases. Our analysis … multiple equilibria may exist in a game involving both workers and an unemployment-averse government. Furthermore, we explore a …

In contrast to much recent work regarding the causes of European unemployment, in this paper, we emphasise the … accumulation and unemployment, we argue that what matters for the evolution of employment [and the unemployment rate] is not the …

The view that high unemployment in West Germany and other European countries is caused by a path dependence effect - or …

levels of unemployment. We consider a general equilibrium model where firms in one sector compete à la Cournot and a real … wage rigidity leads to unemployment. If firms consider only partial equilibrium effects when choosing quantities, the …

This article examines unemployment disparities and efficiency in a densely populated economy with two job centers and … changes in the workforce distribution have non-negligible effects on unemployment rates, wages, and net output, but cannot be …

This paper investigates the empirical relevance of different unemployment theories in three major economies, namely the … UK, the US and Japan, by estimating the degree of dependence in the unemployment series. Both univariate and multivariate …. Specifically, when taking a univariate approach, the unit root null cannot be rejected in case of the UK and Japanese unemployment …

unemployment down to the minimum feasible rate which in the U.S. is most likely around 1.2%,--the rate which prevailed in 1944 and …