Unemployment may depend on equilibrium in other markets than the labor markets. This paper adresses this old idea by … stochastically in equilibrium. Financial market tightness is also a function of three parameters related to financial frictions. Job … creation and employment depend on the equilibrium in the other markets. Reciprocally, higher job destruction implies more …

will introduce enough new goods to avoid such a situation. In contrast, the decentralized equilibrium may involve long run …. In the latter equilibrium, capital and the number of varieties are larger than in the former, while consumption of each …, the satiated equilibrium generically survives. For some parameter values, its growth rate is positive while labor supply …

determined as equilibrium phenomena? What determines worker flows and transition rates from one labor market state to another … market in macroeconomics. Its success includes the modelling of labor market outcomes as equilibrium phenomena, the …

general equilibrium model. In our framework, households can take actions (e.g., purchasing bednets or other goods) that …