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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 … relationship positive in a "European" labour market with little hiring but not in a fluid "American" one. If the marginal cost-unemployment …
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We show that data on satisfaction with life from over 600,000 Europeans are negatively correlated with the unemployment … the public is willing to accept in terms of unemployment for inflation, at least in terms of keeping the average level of …
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We show that data on satisfaction with life from over 600,000 Europeans are negatively correlated with the unemployment … the public is willing to accept in terms of unemployment for inflation, at least in terms of keeping the average level of …
Persistent link: https://www.econbiz.de/10012465017