sticky prices and equilibrium search unemployment that features a shock to the matching efficiency (or mismatch shock). We … find that this shock is almost irrelevant for unemployment fluctuations in normal times. However, it plays a somewhat … larger role during the Great Recession when it contributes to raise the actual unemployment rate by 1.25 percentage points …

sticky prices and equilibrium search unemployment that features a shock to the matching efficiency (or mismatch shock). We … find that this shock is not important for unemployment fluctuations in normal times. However, it plays a somewhat larger … role during the Great Recession when it contributes to raise the actual unemployment rate by around 1.3 percentage points …

sticky prices and equilibrium search unemployment that features a shock to the matching efficiency (or mismatch shock). We … find that this shock is almost irrelevant for unemployment fluctuations in normal times. However, it plays a somewhat … larger role during the Great Recession when it contributes to raise the actual unemployment rate by 1.25 percentage points …

those of unemployment in OECD members. However, there is a positive correlation between employment protection and … unemployment. I find that this result is robust to alternative setups of non-labor markets. Finally, I find that the effect of the …

estimate country-specific VARs relating GDP, unemployment, savings, and social spending. We find that social spending has a … negative effects on output are significant and in some cases large. Unemployment is the dominant channel through which social …

estimate country-specific VARs relating GDP, unemployment, savings, and social spending. We find that social spending has a … negative effects on output are significant and in some cases large. Unemployment is the dominant channel through which social …

equation model of unemployment and real wage growth. The model is developed following a structural approach based on a priori … positive effect on real wage growth and a negative effect on unemployment, with both these effects economically and …

unemployment vary both with large versus small real exchange rate disequilibria and rising versus falling unemployment regimes. The … adjustment in periods of falling unemployment. This implies that prices and wages are more flexible when real output is high … demanding and getting higher wages. Unemployment is reduced following gains in competitiveness when the real exchange rate is …

coming from the unemployment rate. The results are very similar to those obtained without this variable indicating poor … additional information in the unemployment rate to identify the output gap. Other estimations of the output gap are performed. I …