and matching unemployment. We show that trend growth in itself does not generate a trade-off for the monetary authority …

labor market and skill obsolescence from long-term unemployment. The model can account for key features of the Great … aggregate demand raises unemployment and the training costs associated with skill obsolescence. Lower employment hinders …

How the provision of unemployment benefits affects employment and unemployment is a debated issue. In this paper, we … job market with search effort and labor force participation decisions while varying the maximum length of unemployment … effort when unemployment benefits are extended. However, individuals are more likely to participate in the labor force and to …

unemployment. The optimal policy response to the efficient labor market shock changes when real wages are sticky but remains …

labor input, but it predicts a strong counterfactually negative long run relationship between inflation and unemployment … negative long run relationship between trend inflation and unemployment provides indirect evidence against the proposed …. -- Sticky wages ; staggered Nash bargaining ; trend inflation ; unemployment ; search and matching …

real wage rigidities. -- Monetary policy ; real wage rigidity ; labor turnover costs ; unemployment ; tradeoff …

We study the long-run relation between money, measured by inflation or interest rates, and unemployment. We first … where both money and unemployment are modeled using explicit microfoundations, integrating and extending recent work in … accounts for some but not that much of trend unemployment -- by one measure, about 1/5 of the increase during the stagflation …

Standard macroeconomic models underpredict the volatility of unemployment fluctuations. A common solution is to assume … jobs. This form of wage rigidity does not affect job creation and thus cannot explain the unemployment volatility puzzle …

We investigate the controversial issue whether unemployment is related to productivity growth in the long run, using U …. Therefore the secular decline of unemployment since the mid 1990s indeed stemmed from higher average productivity growth. The …