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 … and their interaction is crucial for the dynamics of inflation and unemployment. We estimate a panel VAR with …

This paper examines the usefulness of the Okun relationship as a “rule of thumb” for predicting changes in unemployment … differential reaction of unemployment to changes in the various expenditure components of GDP - significantly enhances the capacity … of the Okun relationship (in comparison to the aggregate “rule of thumb”) for predicting movements in unemployment. The …

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

employment and hours affecting inflation dynamics via marginal costs. We find that the response of unemployment and inflation to … persistent movements of aggregate inflation. Moreover, the impact of a monetary policy shock on unemployment and inflation …

aggregate output, investment and labour in an otherwise standard real business cycle model. Lumpy capital leaves the RBC mainly … repsonses. In addition, when modeling lumpy adjustments on both investment and labour, the aggregate effects are even stronger …

aggregate output, investment and labour in an otherwise standard real business cycle model. Lumpy capital leaves the RBC …-shaped impulse responses. In addition, when modeling lumpy adjustments on both investment and labour, the aggregate effects are even …