The paper examines the employment and unemployment implications of permitting unemployed people to use part of their … unemployment benefits. It would not be inflationary since the long-term unemployed, on whom the vouchers are targeted, have little … unemployment benefits to provide employment vouchers to the firms that hire them. This opportunity to transfer unemployment …

The paper analyzes the wage-employment effects of replacing unemployment benefits by negative income taxes. It first … surveys the major equity and efficiency effects of unemployment benefits versus negative income taxes, and summarizes the … salient features of many European unemployment benefit systems in this light. Second, it presents a simple theoretical model …

This paper offers a reappraisal of the inflation-unemployment tradeoff, based on ?frictional growth,? describing the … expectations, there is a long-run inflation-unemployment tradeoff. Our empirical analysis suggests that this Phillips curve may be … reasonably flat. We show that the persistence of inflation and unemployment, in response to monetary policy shocks, is related to …