policy in explaining the movements of the unemployment rate? The paper develops the theory and seeks to ask how much non …This paper builds upon Hoon and Phelps (1992, 1997) to ask how much of the evolution of the unemployment rate over … the evolution of unemployment rates in Europe as it recovered from the second world war and caught up technologically to …

OECD unemployment rates show long swings which dominate shorter business cycle components and these long swings show a … unemployment by the first principal component. This factor has a natural interpretation as a measure of global expected returns … estimate a model of unemployment adjustment, which allows for the influence both of the global factor and of labour market …

In this paper we introduce and test the hypothesis that the relation between inflation and unemployment has been in … unemployment were the result of the struggle between the wage and price setters trying to influence the distribution of income to … a rising rate of unemployment. Our hypothesis was inspired by the observation that the statistical Phillips curves are …

such as unemployment. Previous studies indicate that monetary policy affects the output gap only at business cycle … frequencies, but the effects on unemployment may well be more persistent in countries with highly regulated labor markets. We … study the Swedish experience of unemployment and monetary policy. Using a structural VAR we find that around 30 percent of …

and matching unemployment. We show that trend growth in itself does not generate a trade-off for the monetary authority …

unemployment. The optimal policy response to the efficient labor market shock changes when real wages are sticky but remains …

real wage rigidities. -- Monetary policy ; real wage rigidity ; labor turnover costs ; unemployment ; tradeoff …

and Galí (2006, 2008) New-Keynesian model of inflation and unemployment, where labor market frictions due to costs of … policy rules based on current period inflation and unemployment our results are similar to those of Bullard and Mitra (2002 … explaining unemployment instability. Under lagged data based rules the area where monetary policy delivers both determinacy and E …

. We use a New Keynesian model with unemployment to predict the effects of different labor market institutions on … theory. Real wage rigidities do not seem to play much of a role. This result is in line with our employed labor market model … ; macroeconomic volatility ; monetary policy ; firing costs ; unemployment benefits ; replacement rate …