This paper offers an alternative theory for the increase in unemployment and wage inequality experienced in the United … change increases skilled wages, reduces unskilled wages and increases the unemployment rate of both skilled and unskilled …

This paper develops the thesis that credit market frictions may be an important contributor to high unemployment in … market imperfections, so unemployment rises and remains high for an extended period. The data show that there has not been … cause of the increase in European unemployment, they may have played some role in limited European employment growth …

unemployment rates for both groups. The paper provides some evidence that there has been a change in the composition of jobs in the …

This paper develops the thesis that credit market frictions may be an important contributor to high unemployment in … market imperfections, so unemployment rises and remains high for an extended period. The data show that there has not been … cause of the increase in European unemployment, they may have played some role in limiting European employment growth. …

We present a generalization of the standard random-search model of unemployment in which firms hire multiple workers … investigation of the out-of-steady state dynamics of our model. We find that the responses of unemployment and of the vacancy to … unemployment ratio to a shock to labor productivity can be somewhat more persistent than in the Mortensen-Pissarides benchmark …