This paper analyses how labour market heterogeneity affects unemployment, productivity and business cycle dynamics that … skilled workers increases the natural rate of unemployment and reduces total factor productivity with long- run effects on the … Beveridge curves. Skill-specific labour market heterogeneity leads to a attening of the Phillips curve as wages and unemployment …

in their unemployment rate and not a decline in labour force participation rate. Policymakers should take account of …

Since the advent of Heterogeneous Agent New Keynesian (HANK) models, countercyclical unemployment risk has been deemed … an important amplification mechanism for business cycles shocks. Yet, the aggregate effects of such "unemployment fears … model. While unemployment fears can exert noticeable aggregate effects, we find their magnitude to depend importantly on the …

historical negative correlation between the unemployment rate and the employer-to-employer (EE) transition rate up to the Great … rate increased commensurately with the decline in unemployment. We then decompose the channels through which a change in EE …

This paper integrates a theory of equilibrium unemployment into a monetary model with nominal price rigidities. The … matching frictions and bargaining over real wages and hours of work. Search frictions generate unemployment in equilibrium … particular, a monetary expansion leads to a rise in job creation and to a hump-shaped decline in unemployment …

between monetary policy, employment, and unemployment. According to the obtained estimates monetary policy shocks invoked … lagged, hump‑shaped reactions of output, employment and unemployment in each of the analysed countries. …