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depression, facilitate recovery with full employment in a Green New Deal, and redistribute income and power with economic …
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paper is threefold: first, we show that the model provides a good fit for employment and unemployment volatility, as well as … volatility of employment and unemployment. Finally, we show the role of search costs in shaping those results. -- matching …
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We incorporate a participation decision in a standard New Keynesian model with matching frictions and show that treating the labor force as constant leads to incorrect evaluation of alternative policies. We also show that the presence of a participation margin mitigates the Shimer critique.
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responsible for the slow recovery of employment, though not for the initial drop. Monetary policy shocks predict an inflation rate … 0.5% below average. Government expenditure innovations do not contribute much either to inflation or to employment …
Persistent link: https://www.econbiz.de/10013040539