In this paper, we argue that credit market imperfections impact not only the level of unemployment, but also its … steady-state unemployment, but also slow down the transitional dynamics. We then provide an empirical illustration based on a … country panel dataset of 20 OECD countries. Our results suggest that credit market imperfections significantly increase the …

functions and wages are bargained over. The optimal allocation of resources is characterized first when information is perfect … optima, non-linear income taxation is a key complement to unemployment insurance. According to the level of the workers …

demand and wages. Compared to their efficient values, gross wages, unemployment and participation are lower. Average tax … levels and endogenous involuntary unemployment due to frictions in the labor markets. Redistributive taxation distorts labor …

efficient values, at the optimum gross wages and unemployment are lower. Average tax rates are moreover increasing in wages. The …We propose a canonical model of optimal nonlinear redistributive taxation with matching unemployment. In our model … observes negotiated wages. More progressive taxation leads to wage moderation that boosts labor demand. We design the optimal …

moderating effect and also because employment of low-paid workers is more elastic to wages. We test these theoretical predictions … suggest that a more progressive tax schedule reduces the unemployment rate and increases the employment rate. These findings … increases employment. From a theoretical point of view, higher progressivity increases overall employment through a wage …

moderating effect and also because employment of low-paid workers is more elastic to wages. We test these theoretical predictions … suggest that a more progressive tax schedule reduces the unemployment rate and increases the employment rate. These findings … increases employment. From a theoretical point of view, higher progressivity increases overall employment through a wage …

This paper builds a macroeconomic model of equilibrium unemployment in which firms persistently face difficulties in …, equilibrium unemployment is a U-shaped function of the ratio of total demand to total supply on this market. When prices are at … their Competitive Search Equilibrium values, the unemployment rate is minimized. Yet, the Competitive Search Equilibrium is …

because minimum wage increases unemployment, hence the marginal cost of redistribution is higher which gives a pretext for …

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. …

with less perverse effect on unemployment. Time inconsistency is more likely due to lack of credibility than to the short …