This short note emphasizes and illustrates two basic points: (1) The private costs of unemployment, i.e., the costs … cause of the permanently high unemployment rate in the United States. (2) The social costs of unemployment, i.e., the costs … of unemployment to the nation as a whole regardless of how they are distributed, must be judged by considering the …

conclusions: Unemployment is not a serious problem for the vast majority of teenage boys. Less than 5 percent of teenage boys are … do seek work, unemployment spells tend to be quite short; over half end within one month when these boys find work or … stop looking for work. Nevertheless, much of the total amount of unemployment is the result of quite long spells among a …

conditions, a relatively unfavorable tax will cause gross wages to adjust until the resulting net wage is equal to that available … elsewhere. The current empirical findings go beyond confirming this long-run tendency and show that gross wages adjust rapidly … of gross wages to tax rates implies that a more progressive tax system raises the cost to firms of hiring more highly …

. Thus, contrary to the theory developed by Barro and a number of subsequent writers, an operative bequest motive need not …