real wages and low unemployment result. With an intermediate view, i.e. when partial equilibrium effects within a sector … are taken into account, high real wages and unemployment result. If all general equilibrium effects are considered at once …, low real wages and low unemployment again result. The assumption that unions and employers? federations are not able to …

. Alternatively, it is shown here how wage stickiness may bring unemployment fluctuations into a New-Keynesian model. Using a Bayesian … the two models and both provide a good empirical fit, with the crucial difference that our model delivers unemployment … fluctuations. Thus, second-moment statistics of the US rate of unemployment are replicated reasonably well in our proposed New …

severe and prolonged macroeconomic shock affects wage rigidity and unemployment. Our second survey was conducted in 1998 …, when the unemployment rate was much higher, and the inflation rate much lower, than when we conducted the first survey in … 1991. We find no evidence that the increase in unemployment has softened the mechanisms generating wage rigidity. On the …

We introduce search and matching unemployment into a model of trade with differentiated goods and heterogeneous firms …

We introduce search and matching unemployment into a model of trade with differentiated goods and heterogeneous firms …

We introduce search and matching unemployment into a model of trade with differentiated goods and heterogeneous firms …

This paper studies the role of labor market institutions on unemployment and on the cyclical properties of job flows …. We construct an intertemporal general equilibrium model with search unemployment and endogenous job turnover, and examine … the consequences of introducing an unemployment benefit, a firing cost and a downward wage rigidity. The model is able to …

unemployment. We show that aggregate unemployment decreases for uneven technical change in the case of Cobb-Douglas production … leading to a rise in unemployment. Moreover, we identify polar cases when unemployment strongly decreases. …

labor market. The co-existence of positive wage spans and unemployment is explained by wage rigidities that are …