may have increased unemployment. It is shown that it is likely to be so if they are associated with an increase in the …

may have increased unemployment. It is shown that it is likely to be so if they are associated with an increase in the …

unemployment. We show that aggregate unemployment decreases for uneven technical change in the case of Cobb-Douglas production … leading to a rise in unemployment. Moreover, we identify polar cases when unemployment strongly decreases …

, with the result that too few hires are made in bad states of the world. Unemployment is involuntary. In an extension to the …

downward rigidity, and magnifying the response of unemployment to negative shocks. We also consider layoffs and show that for a …

labor market and skill obsolescence from long-term unemployment. The model can account for key features of the Great … aggregate demand raises unemployment and the training costs associated with skill obsolescence. Lower employment hinders …