An adequate theory of Life Satisfaction (LS) needs to take account of both factors that tend to stabilise LS and those …

An adequate theory of Life Satisfaction (LS) needs to take account of both factors that tend to stabilise LS and those …

are flexible, the standard deviation of unemployment in a model with rigid wages for incumbent workers (only) matches the …

are flexible, the standard deviation of unemployment in a model with rigid wages for incumbent workers (only) matches the …

Standard macroeconomic models underpredict the volatility of unemployment fluctuations. A common solution is to assume … jobs. This form of wage rigidity does not affect job creation and thus cannot explain the unemployment volatility puzzle …

cycle fluctuations in employment and unemployment. They argue that it is likely that wages are not adjusted as regularly as …

of incumbent workers have substantial effects on separations and unemployment volatility. Allowing for an empirically … relevant degree of wage rigidities for incumbent workers drives unemployment volatility, as well as the volatility of vacancies …