that all the shortrun fluctuations automatically turn into long-run changes in the unemployment rate. We assert the …

The paper presents a model that allows a unified analysis of sickness absence and search unemployment. Sickness appears … benefits affect individual decisions on absence and search and the implications for employment, unemployment and …

This paper provides a critique of the "unemployment invariance hypothesis", according to which the behavior of the … labor market ensures that the long-run unemployment rate is independent of the size of the capital stock, productivity and … the equilibrating mechanisms to ensure unemployment invariance; in particular, other markets may perform part of the …

This paper proposes an empirical method for estimating a long-run trend for the unemployment rate that is grounded in … the modern theory of unemployment. I write down an unobserved components model and identify the cyclical and trend … components of the underlying unemployment flows, which in turn imply a time varying estimate of the unemployment trend, the …

inflation and labor market dynamics. In particular, it fails to generate a Beveridge curve: vacancies and unemployment are …

should be more prevalent, when layoff is not so costly for the worker, due to high unemployment benefits or short duration of … unemployment spells. …