institutions had failed. It reminded us of the recurrence of the Great Depression in the 1930s. The article will clarify how the …

This paper examines how a change in layoff order can affect the decomposition and the size of unemployment in an … concentrates involuntary unemployment incidences to inexperienced workers decreases workers' incentives to reallocate, compared to … an equilibrium where everyone faces an identical unemployment risk, leading also to a decrease in aggregate unemployment …

. This paper provides a new way of assessing the credibility of monetary policy by analyzing the dispersion of inflation-unemployment … 1999-2013. The analysis is based on dispersion measures where we use alternative weights for inflation and unemployment and … also on a simple Misery index which is just a sum of inflation and unemployment values. The general outcome of the paper is …