We show in a union-bargaining model that a decrease in the unemployment benefit level increases not only equilibrium …-term wage contracts lead to higher expected real wages and hence higher expected unemployment than short-term contracts …

The non-accelerating inflation rate of unemployment (NAIRU) is not directly observable and the presence of informal … informality seems to predict inflationary pressures more accurately when the unemployment gap is close to zero. …

law with a focus on the dynamic part of the relationship. We find that the negative relationship between unemployment and … misspecification of the short run unemployment-output relationship. A mixed lag structure indirectly controls for missing explanatory …