The interconnected issues of commodity price fluctuation, unemployment and balance of trade developments are of …

We propose and estimate a model where unemployment fluctuations result from self-fulfilling changes in expected … European unemployment rates. They also generate positive comovements in macroeconomic variables and a large relative volatility … fact that liquidity constrained workers, facing earnings uncertainty in the context of imperfect unemployment insurance …

cycles. Economic Theory, 12(3):583-597]. The aim of this article is to show that financing constraints can substantially … comovements between output and labor share. -- Credit and search frictions ; Labor market ; Unemployment …