peak at 12 months. 5) The probability of a wage change is positively correlated with the unemployment rate and with the … consumer price inflation rate. …

High rates of unemployment entail substantial costs to the working population in terms of reduced subjective well … individual panel data for Germany and repeated cross-sectional data for the United States and the European Union show that the … sensitivity of subjective well-being to fluctuations in unemployment rates is much lower in the public sector than in the private …

chain reactions, and provides new evidence on the long-run inflation-unemployment tradeoff in the US. It is argued that … inflation/unemployment responses to money growth shocks. SVAR (structural vector autoregression) and GMM (generalised method of … and real sides of the economy are symbiotic. In the light of the significant and robust long-run inflation-unemployment …

. This model yields a simple relationship between (i) the unemployment rate, (ii) the value of non-market time, and (iii) the … and allow for measurement error. The estimated wage dispersion and mismatch for the US is consistent with an unemployment …

The Mortensen-Pissarides model with unemployment benefits and taxes has been able to account for the variation in … unemployment rates across countries but does not explain why geographical mobility is very low in some countries (on average, three … times lower in Europe than in the U.S.). We build a model in which both unemployment and mobility rates are endogenous. Our …

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. …

, inflation and housing prices. Flows into both full and partial retirement increase significantly when the unemployment rate … retirement spells has been steadily increasing. We estimate the response of retirement timing to variations in unemployment rate … rises. Workers around normal retirement age are especially sensitive to variations in the unemployment rate. Workers who are …

This paper compares trends in wage inequality in the U.S. and Germany using an approach developed by MaCurdy and Mroz ….S. and Germany but there were various country specific aspects of this increase. For the U.S., we find faster wage growth … Germany. Moreover, we see a large role played by cohort effects in Germany, while we find only small cohort effects in the U …

In this paper, we present a matching model with adverse selection that explains why flows into and out of unemployment …