Unemployment Fluctuations and Stabilization Policies A New Keynesian Perspective Jordi Gali The MIT Press … xi Introduction 1 A Simple Model of Unemployment and Inflation ….Dynamics 7 Unemployment, the Output Gap, and the Welfare Costs of Economic Fluctuations 37 Unemployment and Monetary …

in their unemployment rate and not a decline in labour force participation rate. Policymakers should take account of …

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 …

This paper discusses various concepts of unemployment rate benchmarks that are frequently used by policymakers for … particular, we propose two broad categories of unemployment rate benchmarks: (1) a longer-run unemployment rate expected to … prevail after adjusting to business cycle shocks and (2) a stable-price unemployment rate tied to inflationary pressures. We …

This paper analyses how labour market heterogeneity affects unemployment, productivity and business cycle dynamics that … skilled workers increases the natural rate of unemployment and reduces total factor productivity with long- run effects on the … Beveridge curves. Skill-specific labour market heterogeneity leads to a attening of the Phillips curve as wages and unemployment …