Two thirds of US unemployment volatility is due to fluctuations in workers' job finding rate. In search and matching … worker rents (wages in excess of the value of unemployment). We show that volatility is subject to an upper bound if worker …

movements in aggregate output and inflation in response to a nominal shock. Two modifications of a standard one-quarter pre …, simulations based on estimated shocks to tfp and money growth suggest both output and inflation are too volatile relative to the …

Most of the papers in the sticky-price literature are based on a log-linearization around the zero inflation steady … state, a simplifying but counterfactual assumption. This paper shows that when trend inflation is considered, both the long … results obtained by models log-linearized around a zero inflation steady state are quite misleading. Furthermore, the same is …

Why are financial crises associated with a sustained rise in unemployment? We develop a tractable model with frictions … unemployment. We then explore the micro-level impact by tracking the employment dynamics for firms of different sizes and ages. The …

This paper studies the relationship between disembodied technological progress and unemployment in a standard search … that disembodied technological progress increases the rate of unemployment. (Copyright: Elsevier) …

model in Daveri and Maffezzoli (2000), where unemployment is generated by monopolistic unions, and calibrate it to reproduce …

's skill level. We establish that, for young workers, unemployment incidence increases with skill in high-firing-tax countries … maintaining unemployment duration and the unemployment rate as decreasing functions of skill in all countries. Because of constant …

numerical values for equilibrium unemployment and wage dispersion. The theory makes the novel prediction that wage dispersion is …

paper were to be implemented, the average unemployment rate in the United States would fall from 5.7 to 4.7 percent. Also … and realistic responses of unemployment to changes in UI benefits. (Copyright: Elsevier) …

This paper studies the consequences of creative destruction on unemployment in a frictional labor market with on …-the-job search. For a benchmark calibration, a 1% increase in growth raises the unemployment rate by 1.72 percentage points in the … unemployment through more frequent job separations, in the presence of on-the-job search, creative destruction induces a direct …