This paper proposes an empirical method for estimating a long-run trend for the unemployment rate that is grounded in … the modern theory of unemployment. I write down an unobserved components model and identify the cyclical and trend … components of the underlying unemployment flows, which in turn imply a time varying estimate of the unemployment trend, the …

of transfer taxes on altruistic parents' transfers to their children. Using a theoretical model we find that altruistic … parents do not necessarily tax minimize. However, in some cases when they do, there is an infinitely large excess burden of a …

employment to a technology shock. The results of the estimation support the hypothesis that labor market frictions are … responsible for the negative response of employment. …

that all the shortrun fluctuations automatically turn into long-run changes in the unemployment rate. We assert the …

This paper provides a critique of the "unemployment invariance hypothesis", according to which the behavior of the … labor market ensures that the long-run unemployment rate is independent of the size of the capital stock, productivity and … the equilibrating mechanisms to ensure unemployment invariance; in particular, other markets may perform part of the …

This paper is concerned with social interactions and their importance for unemployment. A theoretical model is … specified in which the social and psychological costs of unemployment depend upon the unemployment level. The theoretical … analysis reveals social multiplier effects, and shows that multiple unemployment equilibria may emerge. Data on all 20- to 24 …

. Both marginal tax rates are of ambiguous sign. The tax systems' effects on the wage formation and the unemployment rates …

dearth of demand for parents' labor supply that support their CL or NCL decisions. It infers that any in-kind transfer or …