find a high degree of downward nominal wage rigidity, which for rates of inflation lower than three percent is shown to … lead to higher equilibrium unemployment via the generated real wage wedge. …

presence of downwardly rigid nominal wages, low inflation may lead to higher equilibrium unemployment by hindering real wage …Bei Vorliegen nach unten starrer Nominallöhne erschwert niedrige Inflation Reallohnanpassungen und führt so … möglicherweise zu erhöhter gleichgewichtiger Arbeitslosigkeit. Dieser Aufsatz analysiert die wachsende Evidenz zu nach unten starren …

We distinguish and assess three fundamental views of the labor market regarding the movements in unemployment: (i) the … that all the short-run fluctuations automatically turn into long-run changes in the unemployment rate. We assert the …

High rates of unemployment entail substantial costs to the working population in terms of reduced subjective well … individual panel data for Germany and repeated cross-sectional data for the United States and the European Union show that the … sensitivity of subjective well-being to fluctuations in unemployment rates is much lower in the public sector than in the private …

This paper addresses the question of why high unemployment rates tend to persist even after their proximate causes have … persistence versus relatively high microeconomic labor market flow numbers. We calibrate the model for East Germany and examine …