paper, we present a model with equilibrium unemployment which has three distinctive properties. First, using a search and …, which allows the model to reproduce the fluctuations of unemployment over the business cycle. And third, the model implies a … reasonable elasticity of steady state unemployment with respect to changes in benefits. The calibration of the model implies low …

where workers apply for just one job exhibits unemployment and absence of wage dispersion; (ii) an equilibrium where workers … apply for two or for more (but not for all) jobs always exhibits wage dispersion and, typically, unemployment; (iii) the … equilibrium wage distribution with a higher vacancy-to-unemployment ratio first-order stochastically dominates the wage …

bargaining. But it is not always true that equilibrium wages exceed those under individual bargaining. If unemployment benefits … are sufficiently low, collectively bargained wages are smaller. The theory sheds new light on policies concerned with …

equate the expected urban wage (given a downward rigid real wage in the urban sector) to the real wage. Unemployment is … endogenously determined. Interpreting unemployment as damage, urban pollution (damage denoted in units of labour) can also support … the same equilibrium with the value of damage equal to the value of resources otherwise lost through unemployment. However …

This paper analyzes a North-South trade model with costly offshoring and equilibrium unemployment due to union wage …

This paper proposes a model of the US unemployment rate which accounts for both its asymmetry and its long memory. Our … standard limit distribution. The empirical results suggest that the US unemployment rate can be specified in terms of a … with path dependency rather than a NAIRU model with an underlying unemployment equilibrium rate, hence giving support to …

We consider a dynamic general equilibrium model with collective wage bargaining and investigate how unemployment … unemployment persistence by its adverse impact on growth, and may even destabilize the adjustment path. If this is the case, a … future fiscal consolidation is needed which further raises unemployment. These results are consistent with empirical evidence …