theory-consistent and narrative sign restrictions on Bayesian SVARs. We find mostly adverse consequences of protectionism …

unemployment fluctuations due to mismatches between labor supply and labor demand. The effects on an estimated New-Keynesian model …, iii) the implied second-moment statistics of the unemployment rate provide a reasonable match with those observed in the … data, and iv) wage-push shocks, demand shifts and monetary policy shocks are the three major determinants of unemployment …

Wage stickiness is incorporated to a New-Keynesian model with variable capital to drive endogenous unemployment … Bayesian econometric techniques and quarterly U.S. data. The second-moment statistics of the unemployment rate in the model … policy shocks are the three major determinants of unemployment fl uctuations. Compared to an estimated New-Keynesian model …

Wage stickiness is incorporated to a New-Keynesian model with variable capital to drive endogenous unemployment … Bayesian econometric techniques and quarterly US data. The second-moment statistics of the unemployment rate in the model … shifts and monetary policy shocks are the major determinants of unemployment fluctuations. Compared to an estimated New …

unemployment fluctuations as the log difference between aggregate labor supply and aggregate labor demand. After estimation with U ….S. data, the implied second-moment statistics of the unemployment rate provide a reasonable match with those observed in the … determinants of unemployment fluctuations. Compared to an estimated canonical DSGE model without unemployment: wage stickiness is …