cycle model. In particular, we analyze the effect of a monetary policy shock and investigate how labor market frictions … persistent movements of aggregate inflation. Moreover, the impact of a monetary policy shock on unemployment and inflation …

that the positive income shock is followed by a decrease in unemployment in all economic activity groups during the initial … periods except the unemployment in the Electricity sector and the Community Services sector. A positive money shock decreases … positive interbank interest rate shock increases the unemployment in all economic activities at the initial levels but derives …

labor demand and the wage bargaining process. The analysis of the interaction of shock spillovers and benefit system focuses …

market shock is provoked in the home country or originates from abroad. We also point out how our results extend to two …

market with wage rigidities may not recover from such a temporary labor supply shock: with a younger and less experienced … even after the shock. In a competitive market, in contrast, wage inequality and notably, the wage return to experience … becomes higher but there is no persistence of the supply shock. Higher education prevents this intertemporal multiplication of …