facts observed in the data. First, the land price and the unemployment rate tend to move in opposite directions over the … business cycle. Second, a shock that moves the land price is capable of generating large volatility in unemployment. Our … estimation indicates that a 10 percent drop in the land price leads to a 0.34 percentage point increase in the unemployment rate …

This paper investigates the importance of labor market institutions for inflation and unemployment dynamics. Using the … Unemployment Rigidities (UR) and those that cause Real Wage Rigidities (RWR). The two types of institutions have opposite effects … and their interaction is crucial for the dynamics of inflation and unemployment. We estimate a panel VAR with …

We propose a monetary model in which the unemployed satisfy the official US definition of unemployment: they are people ….e., unemployment is ‘involuntary’). We integrate our model of involuntary unemployment into the simple New Keynesian framework with no … capital and use the resulting model to discuss the concept of the ‘non-accelerating inflation rate of unemployment’. We then …

a latent mortality variable and of unemployment and GDP growth as main business cycle indicators. We find that young … the other age classes between childhood and old age react with lower mortality to increased unemployment or decreased GDP …

average re-employment probabilities. Living in an area with high local unemployment reduces re-employment chances as does … being in a long spell of non-employment. However, the damage associated with being in a long spell seems to be reduced … somewhat if a worker is unemployed in an area with high overall unemployment. …