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' ‘search intensity' that is recovered from micro-data on individual unemployment-to-employment transitions, in line with recent …
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study the transmission mechanism. With matching frictions, wage rigidities have limited effect on inflation dynamics … opposite ways leaving marginal costs and inflation virtually unaffected …
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Mismatch in the labour market has been implicated as a driver of the UK's productivity ‘puzzle', the phenomenon describing how the growth rate and level of UK productivity have fallen behind their respective pre-Great Financial Crisis trends. Using a new dataset of around 15 million job...
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