We examine the effect of immigration on the host country in the dynamic model that can deal with secular unemployment …. Immigration has contrasting effects, depending on the economic state of the host country. If there is unemployment, immigration … worsens unemployment and decreases consumption by native residents whereas if full employment prevails, immigration has the …

oligopolistic; (2) one country has unemployment while the other attains full employment; (3) oligopolists move internationally; and …

achieves full employment and the other suffers long-run unemployment. Own and spill-over effects of changes in policy …

We present a dynamic and monetary model that consistently explains such various phenomena as unemployment, deflation … thereby generates the phenomena. -- Liquidity Trap ; Zero Nominal Interest Rate ; Persistent Unemployment ; Excess Reserve …

achieves full employment and the other suffers long-run unemployment. Own and spill-over effects of changes in policy …