In this paper, we argue that credit market imperfections impact not only the level of unemployment, but also its … steady-state unemployment, but also slow down the transitional dynamics. We then provide an empirical illustration based on a … persistence of unemployment. -- Credit markets ; labor markets ; unemployment ; credit constraints ; search frictions …

suggest that a more progressive tax schedule reduces the unemployment rate and increases the employment rate. These findings …

stamps which partially insure productivity risk is greater than the value of unemployment insurance which provides (partial …) insurance against employment risk and no insurance against persistent shocks. -- Uncertainty ; life-cycle models ; unemployment …