which there are multiple equilibrium unemployment rates. The model has two equations in common with the new-Keynesian model …

This paper uses a model with a continuum of equilibrium unemployment rates to explore the effectiveness of fiscal … situation of bilateral monopoly. Using this framework, I explain the current financial crisis as a shift to a high unemployment …

This paper develops a rational expectations model with multiple equilibrium unemployment rates where the price of … a permanent reduction in wealth and consumption and a permanent increase in the unemployment rate. My work suggests that …

unemployment rate. I show that the connection between changes in the stock market and changes in the unemployment rate has remained … unemployment. …

Central banks throughout the world predict inflation with new-Keynesian models where, after a shock, the unemployment …

replacement rates or initial tax rates are high, while no increase in unemployment occurs when institutions are ‘employment …This Paper explains the divergent behaviour of European and US unemployment rates using a job market-matching model of … the labour market with an interaction between shocks and institutions. It shows that a reduction in TFP growth rates, an …

account for observed volatility in unemployment and vacancies. Following a suggestion by Hall, [4] [5], building on work by …