Persistent unemployment after recessions and the policies required to bring it down are the subject of an ongoing … unemployment, requiring the implementation of structural policy reforms. The alternative view is that the slow recovery of the … economy is due to cyclic reasons coming from lack of demand which prevents unemployment from falling quickly. Knowing whether …

Since the advent of Heterogeneous Agent New Keynesian (HANK) models, countercyclical unemployment risk has been deemed … an important amplification mechanism for business cycles shocks. Yet, the aggregate effects of such "unemployment fears … model. While unemployment fears can exert noticeable aggregate effects, we find their magnitude to depend importantly on the …

facing exogenous differences in the job finding and separation rates. We use our setting to study the racial unemployment gap … two groups both in the level and volatility of unemployment. We show that the racial unemployment gap is counter … unemployment is above average the gap increases by 0.6pp more than when aggregate unemployment is below average. In terms of policy …

of the job finding rate explain up to 80% of the unemployment fluctuations for the less educated. We then construct a …

We propose that the natural rate of unemployment has an active role in the business cycle, in contrast to the … Phillips-curve framework of low - often extremely low - response of inflation to unemployment could be the result of fairly … most Phillips-curve studies, that conclude that inflation has little relation to unemployment. We suggest that the flat …