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

, but not in unemployment rates. We attribute such inconsistency to persons marginally attached to the labor force and … persons employed part time for economic reasons. Therefore, we construct extended measures for unemployment from 2003 to 2013 … that the alternative measures of unemployment rates support the existence of hysteresis in the Korean labor market, which …

the real sector variable in the feedback rule. We build a DSGE model with sticky prices and wages and unemployment … wages at the same time. This result holds with and without uncertainty in output gap and unemployment gap. While, in case of …English Abstract: This paper studies the role of unemployment as a feedback variable in monetary policy interest rate …

of wages and employment between different groups of workers in the Korean labor market. IST shocks can be identified by …