reaction theory (CRT), should be used to jointly explain the evolution of inflation and unemployment. A further attraction of …The conventional wisdom that inflation and unemployment are unrelated in the long-run implies the compartmentalisation … of macroeconomics. While one branch of the literature models inflation dynamics and estimates the unemployment rate …

analytical framework, which follows the chain reaction theory (CRT) of unemployment and argues that (i) a system of interactive …On both theoretical and empirical grounds, this paper provides evidence that refutes the natural rate of unemployment … (NRU) hypothesis as an explanation of the evolution of regional disparities in the unemployment rate. We first present our …

its strength and weakness, discuss its connections with theory, and draw out potential policy implications of its findings …

unemployment. Finally, we characterize the optimal production mode and show that stronger labour market imperfections lead to a …

Search-matching theory has come to dominate labor economics in recent years, but few attempts have been made to compare … the empirical relevance of search-matching theory to efficiency wage and bargaining theories, where employment is …-matching theory and a standard labor demand model. Estimation on firm-level data yields support for the labor demand model. Wages and …

We evaluate the effects of outsourcing and wage solidarity on wage formation and equilibrium unemployment in a … magnify, and not dampen, this tendency. Further, higher outsourcing will increase equilibrium unemployment among the high … unemployment under the reasonable condition that the proportion of high-skilled workers is sufficiently low …

. This critical value decreases with unemployment benefits and increases with workers' risk aversion. We also show that in …

unemployment at business cycle frequencies by using administrative data on registered unemployment and labor force surveys. We … first investigate the fluctuations in steady state unemployment, and then in current unemployment in order to take into … account the unemployment deviations from equilibrium. Our results show the dominant role of the job finding rate in accounting …

, phenomena, and history. Given the key role that the Non-Accelerating Inflation Rate of Unemployment (NAIRU) has in the … macroeconomic theory as well as its role in determining employment theories, it is raised the need for a thorough evaluation of its …