the financial market, we address two prominent mechanism through which firms' financial constraints amplify unemployment … substantial decline in both unemployment and wages. Financial constraints therefore weaken the direct link between wage rigidity … and unemployment volatility. …

Beveridge (full-employment-consistent) rate of unemployment (BECRU), derived from the unemployment-vacancies relationship. The … BECRU is the level of unemployment that minimises the non-productive use of labour. Based on a novel dataset for the period …. The European unemployment problem emerged in the 1980s and 1990s, as Beveridgean full employment gaps increased. In the …

We propose that the natural rate of unemployment has an active role in the business cycle, in contrast to the … Phillips-curve framework of low - often extremely low - response of inflation to unemployment could be the result of fairly … most Phillips-curve studies, that conclude that inflation has little relation to unemployment. We suggest that the flat …

-Mortensen-Pissarides model. Log linearization under- states the mean and volatility of unemployment, but overstates the volatility of labor … market tightness and the magnitude of the unemployment-vacancy correlation. Log linearization also understates the impulse … responses in unemployment in recessions, but overstates the responses in the market tightness in booms. Finally, the second …

steady-state unemployment dynamics. The reconsideration of German worker flows reveals that both the job finding rate and the … separation rate play an important role for German unemployment dynamics, but the job finding rate dominates in the long run. …, 2012) weist die Verzerrung in der Übergangsrate in Arbeitslosigkeit keine konjunkturelle Abhängigkeit auf, während sich die …