in wages are explained by movements in lagged levels of profitability and unemployment. The results appear to be … competitive labor market model. The paper estimates the unemployment elasticity of pay at approximately -0.03, and the profit …

We model unemployment allowing workers to differ by comparative advantage in market work. Workers with comparative …

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 …

New data compel a new view of events in the labor market during a recession. Unemployment rises almost entirely because … finding from new data is that a large fraction of workers departing jobs move to new jobs without intervening unemployment. I …

This paper looks at models of unemployment which make two central assumptions. The first is that wages are bargained … between firms and employed workers, and that unemployment affects the outcome only to the extent that it affects the labor … market prospects of either employed workers or of firms. The second is that the duration of unemployment affects either the …

We develop a model of self-sustaining discrimination in wages, coupled with higher unemployment and shorter employment …