of unemployment and low real growth in the United States, or in other countries. Nor have these been of much use in the …

This paper offers a reappraisal of the inflation-unemployment tradeoff, based on "frictional growth," describing the … these shocks also generate plausible impulse-responses for unemployment. Although our theory contains no money illusion, no … permanent nominal rigidities, and no departure from rational expectations, there is a long-run inflation-unemployment tradeoff. …

unemployment that is in line with this empirical regularity and the findings for the other emerging markets and regional peers. We … European debt crisis. When investigating whether various expenditure components of GDP may cause different unemployment … improve forecasting of unemployment. …

receive higher wages than employed singles. The model is applied to a welfare analysis of alternative unemployment insurance …