rule features only inflation. Targeting steady state output or unemployment helps to restore determinacy. Under …We introduce skill decay during unemployment into Blanchard and Gali's (2008) New-Keynesian model with hiring frictions … and real-wage rigidity. Plausible values of quarterly skill decay and realwage rigidity turn the long-run marginal cost-unemployment …

Unemployment in the U.S. has risen dramatically since the start of the recession in December 2007, going from about 6 … Statistics. The methodology is to analyze the transition rates and implied steady-state levels of employment and unemployment … flow from unemployment to employment actually increased. As another example, changes in the probability of moving between …

This study investigates the effects of embodied technological progress on unemployment using a search-matching model … unemployment, as supported by recent estimates. This result is attributable mainly to a change in surviving firms' composition …

unemployment risk and decline in demand. As a result, market incompleteness may alleviate contractions in output and inflation …When the economy is in a liquidity trap and households have a precautionary motive to save against unemployment risk …

finds that the pandemic increased unemployment by 27-63% from late January 2020 to the end of September 2020, much higher … experienced a more pronounced increase in unemployment. Five months after the full reopening, employment has not recovered to the …

higher inflation during and after episodes of strong declines in the long-term unemployment rate, even when they occur in …-Accelerating Inflation Rate of Unemployment (NAIRU). Our results call into question the role of long-term unemployment in causing hysteresis …The paper critically examines the New Keynesian explanation of hysteresis based on the role of long-term unemployment …

An empirical regularity in the US business cycles is that in recessions men's unemployment rate rises faster than women … of real personal consumption expenditures, we are able to show a correspondence between gender unemployment dynamics and … segregation based on occupational economic risk, which , in turn is realized in terms of the likelihood of unemployment spells. We …

We study the steady state with involuntary unemployment and fiscal policy to realize full-employment in a situation … with technical progress. Under involuntary unemployment the nominal wage rate may decline. Then, the prices of the goods …

The existence of involuntary unemployment advocated by J. M. Keynes is a very important problem of the modern economic … theory. Using a three-generations overlapping generations model, we show that the existence of involuntary unemployment is … of involuntary unemployment further reduces employment. This instability is due to the negative real balance effect that …