In this paper, we argue that credit market imperfections impact not only the level of unemployment, but also its … steady-state unemployment, but also slow down the transitional dynamics. We then provide an empirical illustration based on a … persistence of unemployment. …

optima, non-linear income taxation is a key complement to unemployment insurance. According to the level of the workers …

levels and endogenous involuntary unemployment due to frictions in the labor markets. Redistributive taxation distorts labor … demand and wages. Compared to their efficient values, gross wages, unemployment and participation are lower. Average tax …

We propose a canonical model of optimal nonlinear redistributive taxation with matching unemployment. In our model … efficient values, at the optimum gross wages and unemployment are lower. Average tax rates are moreover increasing in wages. The …

This paper builds a macroeconomic model of equilibrium unemployment in which firms persistently face difficulties in …, equilibrium unemployment is a U-shaped function of the ratio of total demand to total supply on this market. When prices are at … their Competitive Search Equilibrium values, the unemployment rate is minimized. Yet, the Competitive Search Equilibrium is …

levels and endogenous involuntary unemployment due to frictions in the labor markets. Redistributive taxation distorts labor … demand and wages. Compared to their efficient values, gross wages, unemployment and participation are lower. Average tax …

money growth leads to higher inflation and higher unemployment, so the long-run Phillips curve is not vertical. The optimal … monetary growth rate decreases with the workers’ bargaining power, the level of unemployment benefits and the payroll tax rate. …

This paper characterizes the optimal redistributive tax schedule in a matching unemployment framework with endogenous … (voluntary) nonparticipation and (involuntary) unemployment. The optimal employment tax rate is given by an inverse employment …

because minimum wage increases unemployment, hence the marginal cost of redistribution is higher which gives a pretext for …

money growth leads to higher inflation and higher unemployment, so the long-run Phillips curve is not vertical. The optimal … monetary growth rate decreases with the workers' bargaining power, the level of unemployment benefits and the payroll tax rate. …