level of frictional unemployment as a statistical feature of a decentralized labor market. Shocks to the economy can produce … short-run equilibrium involuntary unemployment arising from unfulfilled expectations. Even after agents align their … negative shock to demand can result in higher levels of equilibrium unemployment. In this way the model exhibits a particular …

The high U.S. unemployment rate after the Great Recession is usually considered to be a result of changes in factors … in the unemployment rate, these factors should have influenced workers' and firms' decisions. Therefore, it is important … factors affect the unemployment rate. To address this issue, we estimate a Mortensen-Pissarides style of labor-market matching …

-wanted ads and an unemployment subsidy, is highly contractionary. However, it leads to large welfare gains. The policy also plays …

targeting affect unemployment, economic growth and the output gap. The results show that inflation targeting causes no harm to … employment in developing and emerging countries. On the contrary, it might reduce average unemployment and narrow the output gap …

explaining the deviations of household inflation and unemployment expectations from the rational expectations benchmark …

factors driving the shadow economy are unemployment and taxation. Analyzing the interaction between shadow and official …