find a high degree of downward nominal wage rigidity, which for rates of inflation lower than three percent is shown to … lead to higher equilibrium unemployment via the generated real wage wedge. …

find a high degree of downward nominal wage rigidity, which for rates of inflation lower than three percent is shown to … lead to higher equilibrium unemployment via the generated real wage wedge. …

large data sets from the U.S., Britain, and western Germany to test the Krugman hypothesis for the 1990s, when unemployment …Rising wage inequality in the U.S. and Britain (especially in the 1980s) and rising continental European unemployment … in Germany increased (unlike in the U.S. and Britain, where it fell). British and German evidence is further backed up …

High rates of unemployment entail substantial costs to the working population in terms of reduced subjective well … individual panel data for Germany and repeated cross-sectional data for the United States and the European Union show that the … sensitivity of subjective well-being to fluctuations in unemployment rates is much lower in the public sector than in the private …

This paper deals with a critical assessment and a reestimation of the "non-accelerating in ation rate of unemployment …" (NAIRU) for Germany. There are quite a few obstacles to perceiving the NAIRU as an understandable and easy-to-use analytical … is made to estimate a NAIRU for Germany based on conventional Phillips curves as well as on new approaches such as using …

labor input, but it predicts a strong counterfactually negative long run relationship between inflation and unemployment … negative long run relationship between trend inflation and unemployment provides indirect evidence against the proposed …. This finding is robust to including a microeconomically realistic degree of indexation of wages to inflation. The lack of a …

EMU, e.g. due to further rising unemployment, become too large to bear. …

EMU, e.g. due to further rising unemployment, become too large to bear. …

' incentives to create jobs, increases unemployment, and lowers GDP. To quantify the effects of this novel channel, we extend the … counterfactual exercises. We find that the adverse effects of our mechanism on the economy's TFP, GDP, and unemployment are sizable. …