demand and supply shocks are opposite to those of the standard case and result in a co-movement of unemployment and … economy permanently operates below capacity due to both structural unemployment and underemployment. The latter is a direct … explain movements of unemployment and underemployment in opposite directions. Finally, we show that fluctuations in the total …

demand and supply shocks are opposite to those of the standard case and result in a co-movement of unemployment and … economy permanently operates below capacity due to both structural unemployment and underemployment. The latter is a direct … explain movements of unemployment and underemployment in opposite directions. Finally, we show that uctuations in the total …

This chapter reviews options of labour market modelling in a CGE framework. On the labour supply side, two principal … production. With respect to labour market coordination, we discuss several wage-forming mechanisms and involuntary unemployment. …

on this assumed homogeneity of labour, the models derive involuntary unemployment from effort decisions of workers, which … regarded as a separate market which has its own clearing quantity and price. As such unemployment is a result of workers … to unemployment other than voluntary. …

-matching theory, job creation in a firm should depend on the availability of workers (unemployment) and on the number of job openings …

-matching theory, job creation in a firm should depend on the availability of workers (unemployment) and on the number of job openings …