propose an equilibrium unemployment approach to retirement decisions that allows us to unveil the factors which explain why …

RBC models with search unemployment and wage renegotiation generate too much wage volatility and too stable … unemployment rate. Shimer (2004) shows that it is possible to reproduce a volatility of unemployment similar to that observed in … unemployment …

money growth leads to higher inflation and higher unemployment, so the long-run Phillips curve is not vertical. The optimal … monetary growth rate decreases with the workers' bargaining power, the level of unemployment benefits and the payroll tax rate …

mobility, while unemployment increases in the country with labor market rigidities, reducing welfare. We also find that taste …

This paper analyzes the effect of Product Market Regulation (PMR) on unemployment in a search model with heterogeneous … rate of unemployment. We distinguish between PMR related to entry costs and PMR that generates recurrent fixed costs. We … find that: (i) higher entry costs raise the rate of unemployment mainly through our novel selection effect, (ii) higher …

This paper develops a life-cycle approach to equilibrium unemployment. Workers only differ respectively to their …

large and persistent negative relationships between unemployment and the risk of repeated unemployment and being out of … that unemployment has a negative effect on later labour market attachment. This is consistent with existing findings in the … present in the data before changing the inference. Thus, unemployment leaves young workers with long-term scars …

We propose and estimate a model where unemployment fluctuations result from self-fulfilling changes in expected … European unemployment rates. They also generate positive comovements in macroeconomic variables and a large relative volatility … fact that liquidity constrained workers, facing earnings uncertainty in the context of imperfect unemployment insurance …

This paper provides a model of "social hysteresis" whereby long, deep recessions demotivate workers and thereby lead …

The persistence of U.S. unemployment has risen with each of the last three recessions, raising the specter that future … shocks do not systematically lead to more persistent unemployment than monetary policy shocks, so these cannot explain the … rising persistence of unemployment. Second, monetary and fiscal policies can account for only part of the evolving …