This paper reviews a new framework for analyzing the interrelationship between inequality, unemployment, labor market …. It implies that the opening of trade may raise inequality and unemployment, but always raises welfare. Unilateral … reductions in labor market frictions increase a country's welfare, can raise or reduce its unemployment rate, yet always hurt the …

labor market frictions and worker heterogeneity provides a framework for studying the impact of trade on unemployment and …

vacancies, firing costs, and unemployment benefits. We study the interaction of labor market rigidities and trade impediments in … shaping welfare, trade flows, productivity, and unemployment. We show that both countries gain from trade but that the … frictions in both countries benefits both of them. The model generates rich patterns of unemployment. In particular, better …

This paper reviews a new framework for analyzing the interrelationship between inequality, unemployment, labor market …. It implies that the opening of trade may raise inequality and unemployment, but always raises welfare. Unilateral … reductions in labor market frictions increase a country's welfare, can raise or reduce its unemployment rate, yet always hurt the …

inequality and raises unemployment, but expected welfare gains are ensured if workers are risk neutral. And while wage inequality …

inequality and raises unemployment, but expected welfare gains are ensured if workers are risk neutral. And while wage inequality …

labor market frictions. We characterize the distributions of employment, unemployment, wages and income within and between … sectors as a function of structural parameters. We find that greater firm heterogeneity increases unemployment, wage … frictions have non-monotonic effects on aggregate unemployment and inequality through within- and between-sector components …

inequality and raises unemployment, but expected welfare gains are ensured if workers are risk neutral. And while wage inequality …