standard model is enhanced by real wage rigidities or labor turnover costs, an endogenous short-run inflation-output tradeoff … arises. This paper compares the implications of the two labor market rigidities. It argues that economists and policymakers … alike should pay more attention to labor turnover costs for the following reasons. First, a model with labor turnover costs …

This paper shows that the German labor market is more volatile than the US labor market. Specifically, the volatility … of the cyclical component of several labor market variables (e.g., the job-finding rate, labor market tightness, and job … vacancies) divided by the volatility of labor productivity is roughly twice as large as in the United States. We derive and …

. We use a New Keynesian model with unemployment to predict the effects of different labor market institutions on …This paper analyzes the effects of different labor market institutions on inflation and output volatility. The eurozone … could account for volatility differences across member states, but labor market characteristics have remained very diverse …