, instead, favors unemployment-centric policy. One- and two-agent alternatives can show unanimous disapproval of inflation …

unemployment across a sample of OECD countries. Using an incomplete markets variant of the fair wage real business cycle model …, increases in the gross replacement rate of public unemployment insurance are shown to increase the volatility of employment, and … which unemployment is endogenised in the model. …

Private consumption demand falls in response to increased unemployment risk during a recession, as households increase … unemployment risk is more important than realized unemployment shocks in accounting for durable expenditure dynamics during … recessions, while the opposite is true for nondurables. The importance of anticipation of future unemployment risk also means …

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 …

unemployment, several European economies display highly persistent unemployment dynamics. The theory of hysteresis challenges this … strong empirical evidence of unemployment hysteresis in advanced economies since the 1990s. Relying on an identification … unemployment rates to pre-shock levels. …

labor market and skill obsolescence from long-term unemployment. The model can account for key features of the Great … aggregate demand raises unemployment and the training costs associated with skill obsolescence. Lower employment hinders …

find a positive and significant relationship between sales and unemployment and perform a time series principal component …

, inflation and unemployment, we detect a wrong sign in the response of inflation to contractionary monetary policy shocks … significant unemployment inflation trade-off emerges. These conclusions are confirmed by using industrial production instead of … the unemployment rate in the VAR model. …