-equilibrium model. Alternatively, it is shown here how wage stickiness may bring unemployment fluctuations into a New-Keynesian model … unemployment fluctuations. Thus, second-moment statistics of U.S. unemployment are replicated reasonably well in our proposed New …

Wage stickiness is incorporated to a New-Keynesian model with variable capital to drive endogenous unemployment … Bayesian econometric techniques and quarterly U.S. data. The second-moment statistics of the unemployment rate in the model … policy shocks are the three major determinants of unemployment fl uctuations. Compared to an estimated New-Keynesian model …

Wage stickiness is incorporated to a New-Keynesian model with variable capital to drive endogenous unemployment … Bayesian econometric techniques and quarterly US data. The second-moment statistics of the unemployment rate in the model … shifts and monetary policy shocks are the major determinants of unemployment fluctuations. Compared to an estimated New …

unemployment fluctuations as the log difference between aggregate labor supply and aggregate labor demand. After estimation with U ….S. data, the implied second-moment statistics of the unemployment rate provide a reasonable match with those observed in the … determinants of unemployment fluctuations. Compared to an estimated canonical DSGE model without unemployment: wage stickiness is …

analyze the effect of changes in the macro economic variables on the wage contract and the unemployment rate. We find that … private information may increase the responsiveness of the unemployment rate to changes in productivity. The incentive power … of the wage contracts is positively related to high productivity, low unemployment benefits and high search frictions. …

responsiveness of the unemployment rate to changes in macroeconomic variables. Most importantly, private information increases the … responsiveness of the unemployment rate to changes in the general (type- and effort independent) productivity level. If the changes … also affect the information structure, the responsiveness of the unemployment rate may be large, even if the changes in …

matching estimator. The existing asympotic theory for this estimator does not cover situations in which the number of impulse …