Unemployment in the United Kingdom has fallen from high European-style levels to US levels. I argue that the key … monetary policy as an institutional change that reduced inflationary pressures in the face of falling unemployment. The decline …

Unemployment in the United Kingdom has fallen from high European-style levels to US levels. I argue that the key … monetary policy as an institutional change that reduced inflationary pressures in the face of falling unemployment. The decline …

Unemployment in the United Kingdom has fallen from high European-style levels to US levels. I argue that the key … monetary policy as an institutional change that reduced inflationary pressures in the face of falling unemployment. The decline …

In this paper we incorporate a labor market with matching frictions and wage rigidities into the New Keynesian business … employment and hours affecting inflation dynamics via marginal costs. We find that the response of unemployment and inflation to … persistent movements of aggregate inflation. Moreover, the impact of a monetary policy shock on unemployment and inflation …

In this paper we incorporate a labor market with matching frictions and wage …

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 …

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 …

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 … unemployment is above average the gap increases by 0.6pp more than when aggregate unemployment is below average. In terms of policy …