paper, we present a model with equilibrium unemployment which has three distinctive properties. First, using a search and …, which allows the model to reproduce the fluctuations of unemployment over the business cycle. And third, the model implies a … reasonable elasticity of steady state unemployment with respect to changes in benefits. The calibration of the model implies low …

This paper investigates the importance of labor market institutions for inflation and unemployment dynamics. Using the … Unemployment Rigidities (UR) and those that cause Real Wage Rigidities (RWR). The two types of institutions have opposite effects … New Keynesian framework we argue that labor market institutions should be divided into those institutions that cause …

surrounding the effects of rule-based monetary policy on unemployment dynamics in the euro area and the US. We employ a Bayesian …

-cycle-frequency fluctuations in unemployment and job vacancies, given shocks of a plausible magnitude. We use data on the cost of vacancy creation …

deviate from the strict inflation targeting since the policy maker faces a typical unemployment/inflation trade-off. In this … (hence the output gap) since the latter also depends on the evolution of unemployment. The matching frictions add a … matches. Hence optimal monetary policy features unemployment targeting along with inflation targeting …

differences in labor market institutions across the same set of countries. It does that by using a DSGE model for a currency area … with sticky prices and labor market frictions. We show that differences in labor market institutions account well for … cyclical inflation differentials. The proposed mechanism is a supply side one in which differences in labor market institutions …

, this allows the model to generate fluctuations of unemployment, vacancies, and labor productivity whose magnitudes are lose …

with a SVAR model by inspecting how unemployment responds to the state of the economy. We show that deviations from Okun …

consistent with firms utilizing part-time work to adjust their labor force to changing economic conditions. Institutions and …