rate in particular contain implicit theories of unemployment. In some cases, the theory is explicit. When the nominal rate … employment, and higher unemployment. Quite separately, the Diamond-Mortensen-Pissarides model is a widely accepted and well …-developed account of turnover, wage determination, and unemployment. The DMP model is a clashing theory of unemployment, in the sense …

though the unemployment rate has returned to its pre-recession levels in many advanced countries, underemployment in most has … underemployment rather than unemployment lowers pay in the years after the Great Recession. We also find evidence for the US that … falls in the home ownership rate have helped to keep wage pressure in check. Underemployment replaces unemployment as the …

This paper starts from two sets of facts about Continental Europe.The first is the steady increase in unemployment … larger increase since the mid-1980s. The paper then develops a model of capital accumulation, unemployment and factor prices …. Using this model to look at the data, it reaches two main conclusions: The initial increase in unemployment, from the mid …

European unemployment is widely regarded as a problem of excessive real wages. This view as it is usually expressed …

surprising miracle occurred the leaver nations are alleged to have enjoyed a burst of real growth and a decline in unemployment … pronounced if it were not for quiescent wage rates, which the paper attributes to high unemployment. The absence of any …

instance in youth versus adult wages, helped limit U.S. unemployment, other aspects, for instance regional wage, show no …

In countries where wages are primarily set by collective bargaining, the effects on unemployment of changes in the … relations. In this paper, we examine the role this quality of labor relations has played in the evolution of unemployment across … relations have experienced higher unemployment. This conclusion remains even after controlling for labor institutions …

U.S. macroeconomic evidence shows a negative relation between the rate of change of wages and unemployment. In contrast …, most theories of wage determination imply a negative relation between the level of wages and unemployment. In this paper … -- from real interest rates to oil prices to payroll taxes -- on the natural rate of unemployment …

advantage of the workers' induces higher unemployment in equilibrium. The upshot is a long run tradeoff between inflation and … unemployment for low levels of inflation. The prediction that low inflation involves higher unemployment in Europe but not in the …

This paper develops the thesis that credit market frictions may be an important contributor to high unemployment in … market imperfections, so unemployment rises and remains high for an extended period. The data show that there has not been … cause of the increase in European unemployment, they may have played some role in limiting European employment growth …