expectations equilibria. Equilibria di¤er with respect to the agents?(rational) expectations about future unemployment. We show … that negative shocks to the agents?expectations lead to ?uctuations in vacancies, unemployment, labor productivity and the …

The paper develops a model of directed search on the job where transitions of workers between unemployment, employment …. Productivity shocks are found to generate large fluctuations in workers' transitions, unemployment and vacancies when matches are …

We study the long-run relation between money, measured by inflation or interest rates, and unemployment. We first … where both money and unemployment are modeled using explicit micro-foundations, integrating and extending recent work in … accounts for some but not that much of trend unemployment — by one measure, about 1/5 of the increase during the stagflation …

of unemployment and vacancies to negative shocks to the aggregate productivity of labor. …

of unemployment and vacancies to negative shocks to the aggregate productivity of labor. …

We study the long-run relation between money, measured by inflation or interest rates, and unemployment. We first … where both money and unemployment are modeled using explicit microfoundations, integrating and extending recent work in … accounts for some but not that much of trend unemployment -- by one measure, about 1/5 of the increase during the stagflation …

Over the last century, unemployment, vacancy, job-finding and job-loss rates as well as the Beveridge curve have no … unemployment, vacancies, job-finding and job-loss rates are constant while the search technology improves over time if and only if …-worker match is acceptable leading to a constant job-finding rate, unemployment, etc... Interestingly, under the same conditions …