not the case. Although unemployment is low, the labor market is not 'tight'. On the contrary, we show that what matters …

We study the nonlinearities present in a standard monetary labor search model modified to have two groups of workers … facing exogenous differences in the job finding and separation rates. We use our setting to study the racial unemployment gap … two groups both in the level and volatility of unemployment. We show that the racial unemployment gap is counter …

We propose that the natural rate of unemployment has an active role in the business cycle, in contrast to the … Phillips-curve framework of low - often extremely low - response of inflation to unemployment could be the result of fairly … most Phillips-curve studies, that conclude that inflation has little relation to unemployment. We suggest that the flat …

money growth leads to higher inflation and higher unemployment, so the long-run Phillips curve is not vertical. The optimal … monetary growth rate decreases with the workers' bargaining power, the level of unemployment benefits and the payroll tax rate. …

separation rate, and vacancies to monetary policy shocks. I develop a general equilibrium model that can account for the large … and persistent responses of vacancies, the job finding rate, the smaller but distinct response of the separation rate, and … rigidities. Special attention is paid to the role of different propagation mechanisms and the impact of search frictions on …

This paper explores the interrelation between the degree of unemployment persistence and the unemployment … unemployment and making unemployment less persistent, the less effective will be the growth-promoting supply-side policies (such as … training schemes) in reducing unemployment. …

money growth leads to higher inflation and higher unemployment, so the long-run Phillips curve is not vertical. The optimal … monetary growth rate decreases with the workers' bargaining power, the level of unemployment benefits and the payroll tax rate …

Using an analog of the boundary element method in engineering and science, we analyze and model unemployment rate in … force. Originally, the model linking unemployment to inflation and labor force was developed and successfully tested for …. Nevertheless, the model explains between ~65% and ~95% of the variability in unemployment and inflation. For Italy, the rate of …

Empirically, unemployment is highly volatile while inflation displays inertia, even though marginal cost is pro … unemployment in the Great Recession. Moreover, inflation inertia is made consistent with pro-cyclical marginal cost since the …