Okun's law is formulated as the ratio between GDP and unemployment (UE): β = f(GDP/UE). It is used to investigate the …

This paper offers a reappraisal of the inflation-unemployment tradeoff, based on ?frictional growth,? describing the … expectations, there is a long-run inflation-unemployment tradeoff. Our empirical analysis suggests that this Phillips curve may be … reasonably flat. We show that the persistence of inflation and unemployment, in response to monetary policy shocks, is related to …

construct a monetary model in which: i) the unemployed are worse off than the employed, i.e. unemployment is involuntary and ii … of the labor force and unemployment rate to these three shocks. …

frictions and unemployment insurance, when the latter is only imperfectly related to search effort. A balanced social insurance … volatility and persistence of vacancies and unemployment. …

This paper offers a reappraisal of the inflation-unemployment tradeoff, based on ?frictional growth? describing the … these shocks also generate plausible impulse-responses for unemployment. Although our theory contains no money illusion, no …

-wanted ads and an unemployment subsidy, is highly contractionary. However, it leads to large welfare gains. The policy also plays …

In the past decades several features of U.S. unemployment dynamics have been investigated empirically. The original … focus of research was on the duration of unemployment. In later studies the cyclicality of incidence and duration …, compositional effects and duration dependence of the exit rate out of unemployment have been investigated. Unlike the partial …

This paper develops a model of unemployment fluctuations. The model keeps the architecture of the Barro and Grossman … flexible to completely rigid. With some price rigidity, aggregate demand influences unemployment through a simple mechanism … thus increases labor demand, which in turn reduces unemployment. We use the comparative-statistics predictions of the model …