We develop a New Monetarist model with expenditure and unemployment risks that generates equilibria with non …-o¤ between inflation and unemployment. Distributional effects also generate a quantitatively significant aggregate demand channel …

market frictions. We characterize the distributions of employment, unemployment, wages and income within and between sectors … as a function of structural parameters. We find that greater firm heterogeneity increases unemployment, wage inequality … frictions have non-monotonic effects on aggregate unemployment and inequality through within- and between-sector components …

differences in how these factors affect insurance coverage for different groups. Variations in unemployment are more important in …

consistent with increasing inequality in every country, growth in residual wage inequality, rising unemployment, and reallocation … within and between industries. While the opening of trade yields welfare gains, unemployment and inequality within sectors … nonmonotonic effects on unemployment and inequality within sectors. As aggregate unemployment and inequality have within- and …

the unskilled. By contrast, in Europe it is undoubtedly the rise and persistence of unemployment. Technology has been … European unemployment. This paper seeks to provide a unified account of these major factor market developments. It models the … impact of technical change on relative wages and unemployment in a world in which one country has flexible and the other …

This paper develops a simple framework for examining human capital accumulation, unemployment, and relative wages in a …, technical change, and a productivity slowdown. We derive the consequences for the skilled-to-unskilled wage gap, unemployment …

Proponents of globalization often conclude that its critics are ignorant or self-motivated. In doing so, they have … missed a valuable opportunity to discover both how best to communicate the benefits of globalization, and how to improve on … the current model of globalization. This paper examines the values, beliefs and facts that lead critics to the view that …

's decade of globalization in the 1990's. I focus the analysis on men born in states with either high-exposure or low …-exposure to globalization, as measured by the share of foreign direct investment, imports, or export assembly in state GDP …

financial globalization makes it increasingly hard to measure wealth at the top. I discuss how new data sources (leaks from …

general results are then used to generate new insights about the consequences of globalization …