unemployment, and interest rate smoothing. The estimates closely track major movements along with important time-series properties … benchmark model that does not account for changes in trend inflation and trend unemployment. …

unemployment, and interest rate smoothing. Compared to the existing literature, our model simultaneously provides estimates of the … unemployment. More precisely, the proposed approach improves upon competing models in tracking the actual evolution of the real …

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 …