business cycle. Second, a shock that moves the land price is capable of generating large volatility in unemployment. Our … facts observed in the data. First, the land price and the unemployment rate tend to move in opposite directions over the … estimation indicates that a 10 percent drop in the land price leads to a 0.34 percentage point increase in the unemployment rate …

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 …

Ljungqvist and Sargent (2017) (LS) show that unemployment fluctuations can be understood in terms of a quantity they … understanding unemployment fluctuations. We show how the LS framework can be adapted to incorporate risk premia. We derive an … show how to use properties of the artificial economy to deduce how risk premia affect unemployment dynamics in the original …

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

Rising wage inequality in the U.S. and Britain (especially in the 1980s) and rising continental European unemployment … large data sets from the U.S., Britain, and western Germany to test the Krugman hypothesis for the 1990s, when unemployment …

their labor input in response to an uncertainty shock by delaying the replacement of workers who leave these establishments. …

their labor input in response to an uncertainty shock by delaying the replacement of workers who leave these establishments. …

of the unemployment rate and of worker transitions. …

years. Theoretically, periods of recessions and high unemployment should directly influence individual’s decisions whether …