We study the implications of product and labor market imperfections for equilibrium unemployment under both exogenous … equilibrium unemployment. The relationship between the long-run unemployment and the intensity of product market competition is … long-run equilibrium unemployment is an increasing function of product market imperfections when the elasticity exceeds …

, it delivers an expression for the employment rate and as side-products, a measure of the unemployment rate and the size … of the labor force. Second, it rationalizes several empirical works on the definition of unemployment in labor force …

-cycle-frequency fluctuations in unemployment and job vacancies in response to shocks of a plausible magnitude. In the U.S., the vacancy-unemployment … vacancy-unemployment ratio and labor productivity have nearly the same variance. I establish this claim both using analytical … small movement along a downward sloping Beveridge curve (unemployment-vacancy locus). A shock to the job destruction rate …

-cycle-frequency fluctuations in unemployment and job vacancies in response to shocks of a plausible magnitude. In the U.S., the vacancy-unemployment … vacancy-unemployment ratio and labor productivity have nearly the same variance. I establish this claim both using analytical … small movement along a downward sloping Beveridge curve (unemployment-vacancy locus). A shock to the job destruction rate …