particular, it provides a natural interpretation for the dynamic inflation--unemployment relation found in the data …

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 …

unemployment benefits …

show that a binding minimum wage -- while leading to unemployment -- is nevertheless desirable if the government values … redistribution toward low wage workers and if unemployment induced by the minimum wage hits the lowest surplus workers first. This …

the minimum wage on teenage unemployment, or its relative impact on black and white teenagers. The purpose of this paper … unemployment rates of teenagers, we explore several related issues: the relative importance of changing the level and coverage of …

. In the more recent work, attention has shifted to effects on unemployment in low-wage demographic groups, such as … distinction between minimum wage effects on employment and those on unemployment. The purpose of this paper is to explore the … analytical distinction between employment and unemployment effects in the hope of providing some understanding of the …