This paper develops a sufficient-statistic formula for the unemployment gap-the difference between the actual … unemployment rate and the efficient unemployment rate. While lowering unemployment puts more people into work, it forces firms to … post more vacancies and to devote more resources to recruiting. This unemployment-vacancy tradeoff, governed by the …

joint unemployment and vacancy dynamics. We show conditions for constrained efficiency and discuss important implications of …

joint unemployment and vacancy dynamics. We show conditions for constrained efficiency and discuss important implications of …

joint unemployment and vacancy dynamics. We show conditions for constrained efficiency and discuss important implications of …

This paper analyses how labour market heterogeneity affects unemployment, productivity and business cycle dynamics that … skilled workers increases the natural rate of unemployment and reduces total factor productivity with long- run effects on the … Beveridge curves. Skill-specific labour market heterogeneity leads to a attening of the Phillips curve as wages and unemployment …

effects of monetary policy on unemployment. We show that over the years the hiring process and how job postings are used as an …

effects of monetary policy on unemployment. We show that over the years the hiring process and how job postings are used as an …