-run concept like the natural rate of unemployment. We examine what effect uncertainty has on the use of NAIRU in policy …

estimation indicates that a 10 percent drop in the land price leads to a 0.34 percentage point increase of the unemployment rate … facts observed in the data. First, the land price and the unemployment rate tend to move in opposite directions over the … business cycle. Second, a shock that moves the land price is capable of generating large volatility in unemployment. Our …

examine U.S. time series and find that, as the model predicts, unemployment fluctuations are associated with both inflation …

sharp increase in the incidence of long-term unemployment (LTU) during the Great Recession. We first show that compositional … shifts in demographics, occupation, industry, region, and the reason for unemployment jointly account for very little of the … model that allows for duration dependence in the exit rate from unemployment and for transitions between employment (E …

We examine the first-order internal effects of unemployment on a range of health behaviors during the most recent … decline in total physical activity. We also find that unemployment is associated with a decline in purchases of fast food …

-cycle-frequency fluctuations in unemployment and job vacancies in response to shocks of a plausible magnitude. In the U.S., the vacancy-unemployment … vacancy-unemployment ratio and labor productivity have nearly the same variance. I establish this claim both using analytical … small movement along a downward sloping Beveridge curve (unemployment-vacancy locus). A shock to the job destruction rate …

A search and matching model, when calibrated to the mean and volatility of unemployment in the postwar sample, can … potentially explain the large unemployment dynamics in the Great Depression. The limited response of wages to labor market … conditions from credible bargaining and the congestion externality from matching frictions cause the unemployment rate to rise …

This paper presents a theory of the monetary transmission mechanism in a monetary version of Farmer's (2009) model in … which there are multiple equilibrium unemployment rates. The model has two equations in common with the new-Keynesian model …