, weighing more on the jobless due to non-homotheticity and the inability to perfectly insure against unemployment spells. Rising … energy prices induce a novel precautionary saving motive: the consumption losses upon unemployment are increased …, and prevent workers from becoming more exposed to the shock through unemployment …

bust phases of the business cycles (unemployment, recessions). In the fourth section of the article some criticisms of the …

, instead, favors unemployment-centric policy. One- and two-agent alternatives can show unanimous disapproval of inflation …

, instead, favors unemployment-centric policy. One- and two-agent alternatives can show unanimous disapproval of inflation …

endogenous firing as well as a short-time work decision. In recessions, short-time work reduces the unemployment risk of workers … replacement rate can be more effective compared to an increase of the unemployment benefit replacement rate. …

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

recessions. First, we show that the consumption risk of short-time work is considerably smaller compared to unemployment using … frictions featuring an endogenous firing and short-time work decision. In recessions, short-time work reduces the unemployment …

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