institutions (wage rigidity and employment protection) increased, but to a much lesser extent, the unemployment gap. … others suffer long periods of costly adjustment, typically high and persistent unemployment and temporary output losses. We … unemployment duration spells, relatively large wage penalties when changing jobs and higher likelihood of leaving activity for …

inflation and a permanent reduction in the level of unemployment. In short, we derive a microfounded long-run downward …

Previous estimates of the effect of unemployment on crime commonly omit determinants of criminal behavior that vary … with the business cycle, creating correlation between unemployment rates and the residuals in aggregate crime regressions … accompanying omitted variables bias to estimates of the effect of unemployment on crime. Using a state-level panel for the period …

good, sold on a competitive market, and face demand-induced price fluctuations. It is then shown that unemployment may … arise in equilibrium because of both uncertainty of product demand and job mismatch. Unemployment does not arise, however … always prevails when there is free entry. Hence, unemployment may persist as long as the incumbent firms choose their skill …

opportunity to use part of their unemployment benefits to provide employment vouchers to the firms that hire them. The vouchers … would depend positively on unemployment duration and training. The paper argues that this policy would give unemployed … failures generated and amplified by unemployment benefit systems. A simple theoretical model is presented, followed by …