adjustment costs can cause a mean-preserving increase in unemployment risk to lead to increased consumption. The predictions of … risk as their unemployment shocks are more highly correlated. Such couples spend more on owner-occupied housing than other … higher moving costs, or when unemployment insurance provides a less generous safety net …

productivity risk is greater than the value of unemployment insurance which provides (partial) insurance against employment risk …

This paper argues that hysteresis helps explain the long-run behavior of unemployment. The natural rate of unemployment … is influenced by the path of actual unemployment, and hence by shifts in aggregate demand. I review past evidence for …

additional leisure and personal maintenance, not in increased household production. There is no relation between unemployment … lower amount of market work in areas of long-term high unemployment is offset by additional household production. In … contrast, in those areas where unemployment has risen cyclically reduced market work is made up almost entirely by additional …

consistent with increasing inequality in every country, growth in residual wage inequality, rising unemployment, and reallocation … within and between industries. While the opening of trade yields welfare gains, unemployment and inequality within sectors … nonmonotonic effects on unemployment and inequality within sectors. As aggregate unemployment and inequality have within- and …

show that a binding minimum wage -- while leading to unemployment -- is nevertheless desirable if the government values … redistribution toward low wage workers and if unemployment induced by the minimum wage hits the lowest surplus workers first. This …