concord with the fact that young workers confront a relatively high unemployment rate compared to other population groups …

English Abstract: This paper studies the role of unemployment as a feedback variable in monetary policy interest rate … the real sector variable in the feedback rule. We build a DSGE model with sticky prices and wages and unemployment …, estimate the model using Korean data, and compare welfare losses between the rule responding to unemployment and the rule …

age groups due to changes in the economic environment arising from such factors as large-scale unemployment, voluntary …