equilibrium unemployment. We then confront the theory to both the detailed facts of …European unemployment has been steadily increasing for the last 15 years and is …insiders and firms, shocks which affect actual unemployment tend also to affect …

We explore the response of employment (unemployment) skill differentials to skill-biased shifts in demand touched off … by the new and spreading technologies. We find that skill differentials in unemployment follow at least in part the same … differences defined by technology. In the aggregate time series relative unemployment is defined by educational unemployment …

The recent European experience of high persistent unemployment has led to the development of theories of unemployment … hysteresis embodying the idea that the equilibrium unemployment rate depends on the history of the actual unemployment rate. This …

In the most widely analyzed type of efficiency wage model of involuntary unemployment, firms pay wages in excess of … equilibrium unemployment act as a worker discipline device. This paper concerns what is usually considered the most important … involuntary unemployment. Explicit upfront bonds are only quite rarely observed. A more subtle form of the bonding critique argues …

understanding the claims of industrial policy advocates. It also can provide the basis for a theory of occupational segregation and … discrimination which will not be eroded by market forces. Finally, the model provides the basis for a theory of involuntary … unemployment …

unemployment. Our empirical results provide support for this theory as we demonstrate that the appropriately measured probability …This paper develops a model of unemployment rate dynamics that provides an explanation of persistent cyclical … unemployment that does not involve persistent expectational errors or other nonoptimizing behavior. Our results are based on the …

We propose a monetary model in which the unemployed satisfy the official US definition of unemployment: they are people ….e., unemployment is 'involuntary'). We integrate our model of involuntary unemployment into the simple New Keynesian framework with no … capital and use the resulting model to discuss the concept of the 'non-accelerating inflation rate of unemployment'. We then …

This paper argues that hysteresis helps explain the long-run behavior of unemployment. The natural rate of unemployment … is influenced by the path of actual unemployment, and hence by shifts in aggregate demand. I review past evidence for …