, this allows the model to generate fluctuations of unemployment, vacancies, and labor productivity whose magnitudes are lose …

ratio and the relatively generous unemployment benefit system. …

supranational unemployment insurance scheme. The model is calibrated to the euro area's core and periphery and features a rich …-regional correlation of unemployment and inflation increases by up to 52% and 27%, respectively, compared to the decentralised setting. The …

, this allows the model to generate fluctuations of unemployment, vacancies, and labor productivity whose magnitudes are …

paper, we present a model with equilibrium unemployment which has three distinctive properties. First, using a search and …, which allows the model to reproduce the fluctuations of unemployment over the business cycle. And third, the model implies a … reasonable elasticity of steady state unemployment with respect to changes in benefits. The calibration of the model implies low …

paper, we present a model with equilibrium unemployment which has three distinctive properties. First, using a search and …, which allows the model to reproduce the fluctuations of unemployment over the business cycle. And third, the model implies a … reasonable elasticity of steady state unemployment with respect to changes in benefits. The calibration of the model implies low …

employment and hours affecting inflation dynamics via marginal costs. We find that the response of unemployment and inflation to … persistent movements of aggregate inflation. Moreover, the impact of a monetary policy shock on unemployment and inflation …

-cycle-frequency fluctuations in unemployment and job vacancies, given shocks of a plausible magnitude. We use data on the cost of vacancy creation …