. If unemployment appears, however, home employment and consumption per capita decrease. …

economy permanently operates below capacity due to both structural unemployment and underemployment. The latter is a direct … demand and supply shocks are opposite to those of the standard case and result in a co-movement of unemployment and … explain movements of unemployment and underemployment in opposite directions. Finally, we show that uctuations in the total …

economy permanently operates below capacity due to both structural unemployment and underemployment. The latter is a direct … demand and supply shocks are opposite to those of the standard case and result in a co-movement of unemployment and … explain movements of unemployment and underemployment in opposite directions. Finally, we show that fluctuations in the total …

. If unemployment appears, however, home employment and consumption per capita decrease. …

those who repay the debt if prices and wages are fixed and unemployment occurs in the periods in which public bonds are … grandchildren. -- Demand shortage ; overlapping generations ; public debt ; unemployment ; welfare effects …

with persistent unemployment arises. -- Status Preference ; Persistent Unemployment ; Long-Run Growth …

Using a dynamic optimization model of a monetary economy where persistent unemployment can prevail, we examine the … commodity production and hence decrease consumption. However, if unemployment appears, they stimulate consumption and production …

optimization model that explains a shortage of aggregate demand and unemployment. We show that government purchases boost aggregate … consumption function ; multiplier effect ; Keynesian Cross ; persistent unemployment ; aggregate demand …