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

supranational unemployment insurance scheme. The model is calibrated to the euro area's core and periphery and features a rich …-regional correlation of unemployment and inflation increases by up to 52% and 27%, respectively, compared to the decentralised setting. The …

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

persistent movements of aggregate inflation. Moreover, the impact of a monetary policy shock on unemployment and inflation …In this paper we incorporate a labor market with matching frictions and wage rigidities into the New Keynesian business … cycle model. In particular, we analyze the effect of a monetary policy shock and investigate how labor market frictions …

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

"unemployment volatility puzzle". We let new matches and continuing jobs differ by their productivity levels and by their … aggregate productivity shock generates a persistent productivity difference between the two types of matches, creating an … well behaving Beveridge curve, despite endogenous job destruction, and more volatile vacancies and unemployment, without a …

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 …

We consider a model with frictional unemployment and staggered wage bargaining where hours worked are negotiated every … period. The workers' bargaining power in the hours negotiation affects both unemployment volatility and inflation persistence … the new entrants wage rigidity required to match observed unemployment volatility …