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Pascal Michaillat

Citations

Many of the citations below have been collected in an experimental project, CitEc, where a more detailed citation analysis can be found. These are citations from works listed in RePEc that could be analyzed mechanically. So far, only a minority of all works could be analyzed. See under "Corrections" how you can help improve the citation analysis.

Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Pascal Michaillat & Emmanuel Saez, 2013. "Aggregate Demand, Idle Time, and Unemployment," NBER Working Papers 18826, National Bureau of Economic Research, Inc.

    Mentioned in:

    1. Types of unemployment
      by Mainly Macro in Mainly Macro on 2014-08-22 17:00:00
  2. Pascal Michaillat & Emmanuel Saez, 2014. "An Economical Business-Cycle Model," NBER Working Papers 19777, National Bureau of Economic Research, Inc.

    Mentioned in:

    1. The best justification for IS-LM?
      by Economic Logician in Economic Logic on 2014-01-29 21:45:00
  3. Pascal Michaillat, 2012. "Do Matching Frictions Explain Unemployment? Not in Bad Times," American Economic Review, American Economic Association, vol. 102(4), pages 1721-1750, June.

    Mentioned in:

    1. Types of unemployment
      by Mainly Macro in Mainly Macro on 2014-08-22 17:00:00
    2. Aggregate demand and the labour market
      by Mainly Macro in Mainly Macro on 2014-07-15 20:05:00
    3. New Keynesian models and the labour market
      by Mainly Macro in Mainly Macro on 2013-08-23 18:30:00
  4. Camille Landais & Pascal Michaillat & Emmanuel Saez, 2010. "A Macroeconomic Theory of Optimal Unemployment Insurance," NBER Working Papers 16526, National Bureau of Economic Research, Inc.

    Mentioned in:

    1. Optimal Unemployment Insurance over the Business Cycle
      by Christian Zimmermann in NEP-DGE blog on 2010-12-17 17:01:01
  5. Pascal Michaillat & Emmanuel Saez, 2018. "Resolving New Keynesian Anomalies with Wealth in the Utility Function," NBER Working Papers 24971, National Bureau of Economic Research, Inc.

    Mentioned in:

    1. A New Keynesian Model with Wealth in the Utility Function
      by Christian Zimmermann in NEP-DGE blog on 2018-10-20 20:40:08

RePEc Biblio mentions

As found on the RePEc Biblio, the curated bibliography of Economics:
  1. Pascal Michaillat & Emmanuel Saez, 2018. "Resolving New Keynesian Anomalies with Wealth in the Utility Function," NBER Working Papers 24971, National Bureau of Economic Research, Inc.

    Mentioned in:

    1. > Macroeconomics > Monetary Theory

Wikipedia or ReplicationWiki mentions

(Only mentions on Wikipedia that link back to a page on a RePEc service)
  1. Pascal Michaillat, 2014. "A Theory of Countercyclical Government Multiplier," American Economic Journal: Macroeconomics, American Economic Association, vol. 6(1), pages 190-217, January.

    Mentioned in:

    1. A Theory of Countercyclical Government Multiplier (AEJ:MA 2014) in ReplicationWiki ()
  2. Pascal Michaillat, 2012. "Do Matching Frictions Explain Unemployment? Not in Bad Times," American Economic Review, American Economic Association, vol. 102(4), pages 1721-1750, June.

    Mentioned in:

    1. Do Matching Frictions Explain Unemployment? Not in Bad Times (AER 2012) in ReplicationWiki ()

Working papers

  1. Pascal Michaillat & Emmanuel Saez, 2024. "Has the Recession Started?," Papers 2408.05856, arXiv.org, revised Sep 2024.

    Cited by:

    1. O'Trakoun, John & Scavette, Adam, 2025. "A better Sahm rule? Introducing the SOS recession indicator," Economics Letters, Elsevier, vol. 247(C).

  2. Pascal Michaillat & Emmanuel Saez, 2024. "Beveridgean Phillips Curve," Papers 2401.12475, arXiv.org, revised Oct 2024.

    Cited by:

    1. Gantert, Konstantin, 2025. "Shopping Time and Frictional Goods Markets: Implications for the New-Keynesian Model," VfS Annual Conference 2025 (Cologne): Revival of Industrial Policy 325386, Verein für Socialpolitik / German Economic Association.

  3. Pascal Michaillat, 2023. "Modeling Migration-Induced Unemployment," Papers 2303.13319, arXiv.org, revised Dec 2024.

    Cited by:

    1. Pascal Michaillat & Emmanuel Saez, 2024. "Beveridgean Phillips Curve," Papers 2401.12475, arXiv.org, revised Oct 2024.

  4. Pascal Michaillat & Emmanuel Saez, 2022. "u* = √uv," NBER Working Papers 30211, National Bureau of Economic Research, Inc.

    Cited by:

    1. Mark Setterfield, 2022. "Inflation and distribution during the post-COVID recovery: a Kaleckian approach," Working Papers 2209, New School for Social Research, Department of Economics.

  5. McCloskey, Adam & Michaillat, Pascal, 2022. "Incentive-Compatible Critical Values," CEPR Discussion Papers 16942, C.E.P.R. Discussion Papers.

    Cited by:

    1. Graham Elliott & Nikolay Kudrin & Kaspar Wuthrich, 2022. "The Power of Tests for Detecting $p$-Hacking," Papers 2205.07950, arXiv.org, revised Aug 2025.

  6. Adam McCloskey & Pascal Michaillat, 2020. "Critical Values Robust to P-hacking," Papers 2005.04141, arXiv.org, revised Dec 2023.

    Cited by:

    1. Guillaume Coqueret, 2023. "Forking paths in financial economics," Papers 2401.08606, arXiv.org.

  7. Pascal Michaillat & Emmanuel Saez, 2019. "Resolving New Keynesian Anomalies with Wealth in the Utility Function," Papers 1905.13645, arXiv.org, revised Dec 2019.

    Cited by:

    1. Qichun He, 2025. "Money, child quantity-quality tradeoff, growth and welfare in a Schumpeterian model with status-seeking in human capital," Journal of Economics, Springer, vol. 145(3), pages 263-293, August.
    2. Ansgar Rannenberg, 2019. "Inequality, the risk of secular stagnation and the increase in household deb," Working Paper Research 375, National Bank of Belgium.
    3. Gauti B. Eggertsson & Marc Giannoni, 2020. "Medium-Term Money Neutrality and the Effective Lower Bound," NBER Working Papers 27669, National Bureau of Economic Research, Inc.
    4. Jean-Baptiste MICHAU, 2019. "The Preference for Net Wealth," Working Papers 2019-12, Center for Research in Economics and Statistics.
    5. Alistair Macaulay, 2026. "The Causal Effects of Heterogeneous Expectation Formation in General Equilibrium," School of Economics Discussion Papers 0226, School of Economics, University of Surrey.
    6. Sami Alpanda & Uluc Aysun & Serdar Kabaca, 2023. "International Portfolio Rebalancing and Fiscal Policy Spillovers," Staff Working Papers 23-56, Bank of Canada.
    7. Sanjay R. Singh & Pablo Cuba-Borda, 2019. "Understanding Persistent Stagnation," Working Papers 329, University of California, Davis, Department of Economics.
    8. Pablo Cuba-Borda & Sanjay R. Singh, 2022. "Understanding Persistent ZLB: Theory and Assessment," Working Papers 346, University of California, Davis, Department of Economics.
    9. Qichun He & Yulei Luo & Jun Nie & Heng-fu Zou, 2022. "Online Appendix to "Money, Growth, and Welfare in a Schumpeterian Model with the Spirit of Capitalism"," Online Appendices 21-41, Review of Economic Dynamics.
    10. Zhao, Junzhu, 2023. "Wealth in utility, the Taylor principle and determinacy," Journal of Macroeconomics, Elsevier, vol. 76(C).
    11. Coenen, Günter & Montes-Galdón, Carlos & Saint Guilhem, Arthur & Hutchinson, John & Motto, Roberto, 2022. "Rate forward guidance in an environment of large central bank balance sheets: a Eurosystem stock-taking assessment," Occasional Paper Series 290, European Central Bank.
    12. Matthieu Darracq Paries & Georg Muller & Niki Papadopoulou, 2022. "Fiscal Multipliers with Sovereign Risk and Fragile Banks," Working Papers 2022-5, Central Bank of Cyprus.
    13. Daudignon, Sandra & Tristani, Oreste, 2023. "Monetary policy and the drifting natural rate of interest," Working Paper Series 2788, European Central Bank.
    14. Christian Schoder & Remzi Baris Tercioglu, 2024. "A climate-fiscal policy mix to achieve Türkiye’s net-zero ambition under feasibility constraints," European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing, vol. 21(2), pages 331-359, April.
    15. Eyster, Erik & Madarász, Kristóf & Michaillat, Pascal, 2020. "Pricing under fairness concerns," LSE Research Online Documents on Economics 106567, London School of Economics and Political Science, LSE Library.
    16. Bredemeier, Christian & Juessen, Falko & Schabert, Andreas, 2022. "Why are fiscal multipliers moderate even under monetary accommodation?," European Economic Review, Elsevier, vol. 141(C).
    17. Cairó, Isabel & Sim, Jae, 2024. "Market power, inequality, and financial instability," Journal of Economic Dynamics and Control, Elsevier, vol. 164(C).
    18. Jean-Bernard Chatelain & Kirsten Ralf, 2024. "Wealth in the Quadratic Loss Function of the Ramsey Malinvaud Cass Koopmans Model of Optimal Savings [La richesse dans la fonction de perte quadratique du modèle d'épargne optimale de Ramsey, Malinvaud, Cass et Koopmans]," Post-Print halshs-04612845, HAL.
    19. Dobrew, Michael & Gerke, Rafael & Kienzler, Daniel & Schwemmer, Alexander, 2023. "Monetary policy rules under bounded rationality," Discussion Papers 18/2023, Deutsche Bundesbank.
    20. Agustín Arias & Benjamín García & Ignacio Rojas, 2023. "Forward Guidance: Estimating a Behavioral DSGE Model with System Priors," Working Papers Central Bank of Chile 994, Central Bank of Chile.
    21. Atif Mian & Ludwig Straub & Amir Sufi, 2021. "A Goldilocks Theory of Fiscal Policy," Working Papers 2021-37, Princeton University. Economics Department..
    22. Filippo Ferroni & Jonas D. M. Fisher & Leonardo Melosi, 2022. "Usual Shocks in our Usual Models," Working Paper Series WP 2022-39, Federal Reserve Bank of Chicago.
    23. Diba, Behzad & Loisel, Olivier, 2021. "Pegging the interest rate on bank reserves: A resolution of New Keynesian puzzles and paradoxes," Journal of Monetary Economics, Elsevier, vol. 118(C), pages 230-244.
    24. Pascal Michaillat & Emmanuel Saez, 2019. "An Economical Business-Cycle Model," Papers 1912.07163, arXiv.org, revised Apr 2021.
    25. Melosi, Leonardo & Campbell, Jeffrey & Ferroni, Filippo & Fisher, Jonas, 2019. "The Limits of Forward Guidance," CEPR Discussion Papers 13612, C.E.P.R. Discussion Papers.
    26. Cristiano Cantore & Lukas Freund, 2020. "Workers, capitalists, and the government: fiscal policy and income (re)distribution," Bank of England working papers 858, Bank of England.
    27. He Nie & Jordan Roulleau-Pasdeloup, 2023. "The promises (and perils) of control-contingent forward guidance," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 49, pages 77-98, July.
    28. Alessandro Ferrari & Valerio Nispi Landi, 2022. "Toward a green economy: the role of central bank's asset purchases," Temi di discussione (Economic working papers) 1358, Bank of Italy, Economic Research and International Relations Area.
    29. Pascal Michaillat & Emmanuel Saez, 2024. "Beveridgean Phillips Curve," Papers 2401.12475, arXiv.org, revised Oct 2024.
    30. Di Bucchianico, Stefano, 2020. "Discussing Secular Stagnation: A case for freeing good ideas from theoretical constraints?," Structural Change and Economic Dynamics, Elsevier, vol. 55(C), pages 288-297.
    31. Brent Bundick & Andrew Lee Smith, 2020. "Should We Be Puzzled by Forward Guidance?," Research Working Paper RWP 20-01, Federal Reserve Bank of Kansas City.
    32. Kulish, Mariano & Yamout, Nadine, 2024. "The fiscal arithmetic of a slowdown in trend growth," European Economic Review, Elsevier, vol. 168(C).
    33. Mehrotra, Neil R. & Sergeyev, Dmitriy, 2021. "Debt sustainability in a low interest rate world," Journal of Monetary Economics, Elsevier, vol. 124(S), pages 1-18.
    34. Darracq Pariès, Matthieu & Müller, Georg & Papadopoulou, Niki, 2023. "Fiscal multipliers within the euro area in the context of sovereign risk and bank fragility," Economic Modelling, Elsevier, vol. 126(C).
    35. Sebastian Gechert & Jan Siebert, 2019. "Preferences over wealth," IMK Working Paper 200-2019, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    36. Hao Li & Gaowang Wang & Jun Yu, 2025. "Revisiting Optimal Capital Taxation with the Spirit of Capitalism," Annals of Economics and Finance, Society for AEF, vol. 26(2), pages 501-524, November.
    37. Martin Wolf & Luca Fornaro, 2021. "Monetary Policy in the Age of Automation," Working Papers 1290, Barcelona School of Economics.
    38. Bonciani, Dario & Oh, Joonseok, 2025. "Optimal monetary policy mix at the zero lower bound," Journal of Economic Dynamics and Control, Elsevier, vol. 170(C).
    39. Jean-Baptiste Michau & Yoshiyasu Ono & Matthias Schlegl, 2018. "Wealth Preference and Rational Bubbles," CESifo Working Paper Series 7148, CESifo.
    40. Christian Bredemeier & Falko Juessen & Andreas Schabert, 2021. "Why Are Fiscal Multipliers Moderate Even Under Monetary Accommodation?," ECONtribute Discussion Papers Series 074, University of Bonn and University of Cologne, Germany.
    41. Nobuyuki Hanaki & Yuta Shimodaira, 2024. "Wealth preferences and wealth inequality: Experimental evidence," ISER Discussion Paper 1260, Institute of Social and Economic Research, The University of Osaka.
    42. He, Qichun, 2024. "Wealth in the utility function, consumption subsidy, and long-run growth and welfare," Journal of Macroeconomics, Elsevier, vol. 82(C).
    43. Kopiec, Paweł, 2024. "Monetary-Fiscal Forward Guidance," MPRA Paper 120563, University Library of Munich, Germany.
    44. Hashimoto, Ken-ichi & Ono, Yoshiyasu & Schlegl, Matthias, 2023. "Structural unemployment, underemployment, and secular stagnation," Journal of Economic Theory, Elsevier, vol. 209(C).
    45. Bredemeier, Christian & Kaufmann, Christoph & Schabert, Andreas, 2018. "Interest rate spreads and forward guidance," Working Paper Series 2186, European Central Bank.
    46. Ansgar Rannenberg, 2019. "Forward guidance with preferences over safe assets," Working Paper Research 364, National Bank of Belgium.
    47. Atif Mian & Ludwig Straub & Amir Sufi, 2021. "Indebted Demand," Working Papers 2021-82, Princeton University. Economics Department..
    48. Ruopu Hu & Andreas Schabert, 2026. "Bank Regulation and Post-2008 US Monetary Policy," ECONtribute Discussion Papers Series 397, University of Bonn and University of Cologne, Germany.
    49. Airaudo, Marco, 2025. "Temptation-driven preferences: A resolution to New Keynesian anomalies," European Economic Review, Elsevier, vol. 172(C).
    50. Adrien Auclert & Matthew Rognlie & Ludwig Straub, 2018. "The Intertemporal Keynesian Cross," NBER Working Papers 25020, National Bureau of Economic Research, Inc.
    51. Modesto, Leonor & Nourry, Carine & Seegmuller, Thomas & Venditti, Alain, 2021. "Growth and instability in a small open economy with debt," Mathematical Social Sciences, Elsevier, vol. 112(C), pages 26-37.
    52. Qichun He & Yulei Luo & Jun Nie & Heng-fu Zou, 2021. "Money, Growth, and Welfare in a Schumpeterian Model with the Spirit of Capitalism," CEMA Working Papers 615, China Economics and Management Academy, Central University of Finance and Economics.
    53. Ferry Syarifuddin & Toni Bakhtiar, 2022. "The Macroeconomic Effects of an Interest-Bearing CBDC: A DSGE Model," Mathematics, MDPI, vol. 10(10), pages 1-33, May.
    54. Sergeyev, Dmitriy & Lian, Chen & Gorodnichenko, Yuriy, 2023. "The Economics of Financial Stress," IZA Discussion Papers 16318, IZA Network @ LISER.
    55. Dennis Bonam, 2020. "A convenient truth: The convenience yield, low interest rates and implications for fiscal policy," Working Papers 700, DNB.
    56. Chunbing Cai & Jordan Roulleau-Pasdeloup, 2023. "Simple Analytics of the Government Investment Multiplier," Papers 2302.11212, arXiv.org, revised Sep 2023.
    57. Kragl, Jenny & Bental, Benjamin, 2020. "Other-Regarding Preferences and Incentives in the Societal Context," VfS Annual Conference 2020 (Virtual Conference): Gender Economics 224547, Verein für Socialpolitik / German Economic Association.
    58. Wang, Gaowang & Zou, Heng-fu, 2025. "Romer Meets Weber-Schumpeter: The Spirit of Capitalism, Entrepreneurial Drive and Long-Run Growth," MPRA Paper 126518, University Library of Munich, Germany.
    59. Airaudo, Marco, 2020. "Temptation and forward-guidance," Journal of Economic Theory, Elsevier, vol. 186(C).
    60. Bental, Benjamin & Kragl, Jenny, 2021. "Inequality and incentives with societal other-regarding preferences," Journal of Economic Behavior & Organization, Elsevier, vol. 188(C), pages 1298-1324.
    61. Kim, Minseong, 2019. "A comment on ergodicity economics," OSF Preprints 7gm8a, Center for Open Science.
    62. Rannenberg, Ansgar, 2021. "State-dependent fiscal multipliers with preferences over safe assets," Journal of Monetary Economics, Elsevier, vol. 117(C), pages 1023-1040.
    63. Chunbing Cai & Jordan Roulleau-Pasdeloup & Zhongxi Zheng, 2025. "Endogenous Persistence at the Effective Lower Bound," Papers 2501.06473, arXiv.org, revised Sep 2025.
    64. Kazuma Inagakli, & Yoshiyasu Ono & Takayuki Tsuruga, 2022. "Accounting for the slowdown in output growth after the Great Recession: A wealth preference approach," ISER Discussion Paper 1174r, Institute of Social and Economic Research, The University of Osaka, revised Mar 2023.
    65. Müller, Tobias & Christoffel, Kai & Mazelis, Falk & Montes-Galdón, Carlos, 2022. "Disciplining expectations and the forward guidance puzzle," Journal of Economic Dynamics and Control, Elsevier, vol. 137(C).
    66. Moore, Rachel & Pecoraro, Brandon, 2021. "Quantitative Analysis of a Wealth Tax in the United States: Exclusions, Evasion, and Expenditures," MPRA Paper 109120, University Library of Munich, Germany.
    67. Schoder, Christian & Tercioglu, Remzi Baris, 2023. "A Climate-Fiscal Policy Mix to Achieve Türkiye’s Net-Zero Ambition under Feasibility Constraints," Policy Research Working Paper Series 10551, The World Bank.
    68. Lepetit, Antoine & Fuentes-Albero, Cristina, 2022. "The limited power of monetary policy in a pandemic," European Economic Review, Elsevier, vol. 147(C).
    69. Thomas Aronsson & Sugata Ghosh & Ronald Wendner, 2023. "Positional preferences and efficiency in a dynamic economy," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 61(2), pages 311-337, August.
    70. Yang Ming & Heng-fu Zou, 2024. "The Spirit of Capitalism, Entrepreneurship, and Talent Allocation," Annals of Economics and Finance, Society for AEF, vol. 25(1), pages 1-29, May.
    71. Lai, Shuying & Qiu, Jing & Tao, Yuechuan & Zhao, Junhua, 2021. "Risk hedging for gas power generation considering power-to-gas energy storage in three different electricity markets," Applied Energy, Elsevier, vol. 291(C).
    72. Yasutaka Ogawa & Jiro Yoshida, 2024. "Aging, Housing, and Macroeconomic Inefficiency," IMES Discussion Paper Series 24-E-04, Institute for Monetary and Economic Studies, Bank of Japan.
    73. Yulei Luo & Jun Nie & Heng-fu Zou, 2021. "Wealth in the Utility Function and Consumption Inequality," Research Working Paper RWP 21-17, Federal Reserve Bank of Kansas City.
    74. Moore, Rachel & Pecoraro, Brandon, 2023. "Quantitative analysis of a wealth tax for the United States: Exclusions and expenditures," Journal of Macroeconomics, Elsevier, vol. 78(C).
    75. Ansgar Rannenberg, 2025. "Forward Guidance with Preferences over Safe Assets," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 73(4), pages 1090-1194, December.
    76. Mirela Miescu, 2022. "Forward guidance shocks," Working Papers 352591340, Lancaster University Management School, Economics Department.
    77. Fanny Henriet & Yannick Kalantzis & Matthieu Lemoine & Noëmie Lisack & Harri Turunen, 2025. "Bridging the Gap in Macroeconomic Analysis of the Energy Transition: Combining Medium-and Long-Term Approaches," Working papers 1000, Banque de France.
    78. Kabaca, Serdar & Maas, Renske & Mavromatis, Kostas & Priftis, Romanos, 2023. "Optimal quantitative easing in a monetary union," European Economic Review, Elsevier, vol. 152(C).
    79. Waters, George A., 2022. "The many faces of the taylor rule for advanced undergraduate macroeconomics," International Review of Economics Education, Elsevier, vol. 41(C).
    80. Haochun Ma & Jordan Roulleau-Pasdeloup, 2025. "Clearing Up the Effective Lower Bound Morass," Papers 2511.04782, arXiv.org.

  8. Pascal Michaillat & Emmanuel Saez, 2019. "Beveridgean Unemployment Gap," Papers 1911.05271, arXiv.org, revised Nov 2021.

    Cited by:

    1. Juan C. Córdoba & Anni T. Isojärvi & Haoran Li, 2024. "Endogenous Bargaining Power and Declining Labor Compensation Share," Opportunity and Inclusive Growth Institute Working Papers 092, Federal Reserve Bank of Minneapolis.
    2. Hie Joo Ahn & Leland D. Crane, 2020. "Dynamic Beveridge Curve Accounting," Finance and Economics Discussion Series 2020-027, Board of Governors of the Federal Reserve System (U.S.).
    3. Garita, Jonathan & Pastrana, Guillermo & Slon, Pablo, 2024. "Job displacement effects and labor market sorting during COVID-19," Latin American Journal of Central Banking (previously Monetaria), Elsevier, vol. 5(2).
    4. Gökten, Meryem & Heimberger, Philipp & Lichtenberger, Andreas, 2024. "How far from full employment? The European unemployment problem revisited," European Economic Review, Elsevier, vol. 164(C).
    5. Demirgüç-Kunt, Asli & Lokshin, Michael & Torre, Iván, 2024. "Protect incomes or protect jobs? The role of social policies in post-pandemic recovery," World Development, Elsevier, vol. 182(C).
    6. Pascal Michaillat & Emmanuel Saez, 2024. "Beveridgean Phillips Curve," Papers 2401.12475, arXiv.org, revised Oct 2024.
    7. Michaillat, Pascal, 2023. "Modeling Migration-Induced Unemployment," Santa Cruz Department of Economics, Working Paper Series qt4vq4j061, Department of Economics, UC Santa Cruz.
    8. Leythienne, Jean Fernand, 2024. "Is euro area at full employment ? — A diagnosis from the Beveridge curve," Economic Analysis and Policy, Elsevier, vol. 81(C), pages 322-340.
    9. Miroslav Gabrovski & Ioannis Kospentaris & Lucie Lebeau, 2024. "The Macroeconomics of Labor, Credit and Financial Market Imperfections," Working Papers 2409, Federal Reserve Bank of Dallas.
    10. Fortin, Pierre, 2024. "Does immigration help alleviate economy-wide labour shortages?," CLEF Working Paper Series 70, Canadian Labour Economics Forum (CLEF), University of Waterloo.
    11. Joshua Bernstein & Alexander W. Richter & Nathaniel A. Throckmorton, 2025. "The Matching Function and Nonlinear Business Cycles," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 57(2-3), pages 349-376, March.
    12. Shisham Adhikari & Athanasios Geromichalos & Ioannis Kospentaris, 2023. "How much work experience do you need to get your first job? The macroeconomic implications of bias against labor market entrants," Working Papers 357, University of California, Davis, Department of Economics.
    13. Jonathan Garita-Garita & Catalina Sandoval-Alvarado, 2023. "Estimating Labor Market Slackness in Costa Rica," Documentos de Trabajo 2302, Banco Central de Costa Rica.
    14. Fabrice Collard & Patrick Feve & Alain Guay, 2024. "Risk Scenarios and Macroeconomic Forecasts," Working Papers 24-03, Chair in macroeconomics and forecasting, University of Quebec in Montreal's School of Management, revised May 2024.
    15. Jelena Momcilovic and Mirjana Miletic & Jelena Momcilovic & Mirjana Miletic, 2024. "Analysis of the labour market and its impact on inflation in Serbia," Working Papers Bulletin 25, National Bank of Serbia.
    16. Alex Domash & Lawrence H. Summers, 2022. "How Tight are U.S. Labor Markets?," NBER Working Papers 29739, National Bureau of Economic Research, Inc.

  9. Erik Eyster & Kristof Madarasz & Pascal Michaillat, 2019. "Pricing under Fairness Concerns," Papers 1904.05656, arXiv.org, revised Aug 2020.

    Cited by:

    1. van Oldeniel, Mark & Peter, Noemi, 2025. "Endogenous cool-off periods," Journal of Economic Behavior & Organization, Elsevier, vol. 238(C).
    2. Pitschner, Stefan, 2020. "How do firms set prices? Narrative evidence from corporate filings," European Economic Review, Elsevier, vol. 124(C).
    3. Ghazi, Soroush & Schneider, Mark, 2024. "Market value of rarity: A theory of fair value and evidence from rare baseball cards," Journal of Economic Behavior & Organization, Elsevier, vol. 219(C), pages 318-339.
    4. Marco Bertini & Stefan Buehler & Daniel Halbheer, 2020. "Pricing and Supply Chain Transparency to Conscientious Consumers," CESifo Working Paper Series 8675, CESifo.
    5. Denis Claude & Mabel Tidball, 2022. "Taking firms’ margin targets seriously in a model of competition in supply functions," Working Papers hal-03548797, HAL.
    6. Jianyu Xu & Dan Qiao & Yu-Xiang Wang, 2022. "Doubly Fair Dynamic Pricing," Papers 2209.11837, arXiv.org.
    7. Pablo Cuba-Borda & Jean-Paul L'Huillier, 2025. "Inflation is a Supply Phenomenon," Working Papers 137, Brandeis University, Department of Economics and International Business School.
    8. Pascal Michaillat & Emmanuel Saez, 2024. "Beveridgean Phillips Curve," Papers 2401.12475, arXiv.org, revised Oct 2024.
    9. Rezaei, Sarah & Rosenkranz, Stephanie & Weitzel, Utz & Westbrock, Bastian, 2024. "Social preferences on networks," Journal of Public Economics, Elsevier, vol. 234(C).
    10. Comisión Nacional de los Mercados y la Competencia (CNMC), 2025. "Study on behavioural economics for efficient regulation and supervision," Colección Estudios de Mercado E/CNMC/002/23_ENG, Comisión Nacional de los Mercados y la Competencia (CNMC).
    11. Shirota, Toyoichiro, 2025. "Optimal monetary policy under fairness concerns in pricing," Economics Letters, Elsevier, vol. 247(C).
    12. Michael Luca & Oren Reshef, 2021. "The Effect of Price on Firm Reputation," Management Science, INFORMS, vol. 67(7), pages 4408-4419, July.
    13. Maxime C. Cohen & Adam N. Elmachtoub & Xiao Lei, 2022. "Price Discrimination with Fairness Constraints," Management Science, INFORMS, vol. 68(12), pages 8536-8552, December.
    14. Kirsten Hillebrand & Lars Hornuf, 2021. "The Social Dilemma of Big Data: Donating Personal Data to Promote Social Welfare," CESifo Working Paper Series 8926, CESifo.
    15. Alessandro Ispano & Peter Schwardmann, 2023. "Cursed Consumers and the Effectiveness of Consumer Protection Policies," Journal of Industrial Economics, Wiley Blackwell, vol. 71(2), pages 407-440, June.
    16. Weiß, Maximilian & Kohler, Thomas & L'Huillier, Jean-Paul & Phelan, Gregory, 2025. "Why Do Supply Disruptions Lead to Inflation?," VfS Annual Conference 2025 (Cologne): Revival of Industrial Policy 325458, Verein für Socialpolitik / German Economic Association.
    17. Viral V. Acharya & Matteo Crosignani & Tim Eisert & Christian Eufinger, 2025. "How Do Supply Shocks to Inflation Generalize? Evidence From the Pandemic Era in Europe," Staff Reports 1164, Federal Reserve Bank of New York.
    18. Hamilton, Stephen & Ouvrard, Benjamin, 2025. "Fair Pricing and Structural Excess Supply," 2025 AAEA & WAEA Joint Annual Meeting, July 27-29, 2025, Denver, CO 360647, Agricultural and Applied Economics Association.
    19. Yusuke Takahashi & Yoichiro Tamanyu, 2022. "Households' Perceived Inflation and CPI Inflation: the Case of Japan," Bank of Japan Working Paper Series 22-E-1, Bank of Japan.

  10. Pascal Michaillat & Emmanuel Saez, 2019. "An Economical Business-Cycle Model," Papers 1912.07163, arXiv.org, revised Apr 2021.

    Cited by:

    1. Michau, Jean-Baptiste, 2025. "Fiscal policy under secular stagnation: An optimal pump-priming strategy," Journal of Economic Dynamics and Control, Elsevier, vol. 175(C).
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    3. Wang, Gaowang & Zou, Heng-fu, 2020. "Optimal fiscal and monetary policy in economies with capital," MPRA Paper 102753, University Library of Munich, Germany.
    4. Nicolas Petrosky-Nadeau & Etienne Wasmer & Shutian Zeng, 2014. "Shopping Time," Working Papers hal-03460207, HAL.
    5. Uhlig, Harald & Fratto, Chiara, 2014. "Accounting for Post-Crisis Inflation and Employment: A Retro Analysis," CEPR Discussion Papers 10306, C.E.P.R. Discussion Papers.
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    7. Gerhard Illing & Yoshiyasu Ono & Matthias Schlegl, 2016. "Asset Prices and Leverage in a Model of Persistent Stagnation," ISER Discussion Paper 0988, Institute of Social and Economic Research, The University of Osaka.
    8. Illing, Gerhard & Ono, Yoshiyasu & Schlegl, Matthias, 2018. "Credit booms, debt overhang and secular stagnation," European Economic Review, Elsevier, vol. 108(C), pages 78-104.
    9. Thomas Brzustowski & Nicolas Petrosky-Nadeau & Etienne Wasmer, 2015. "Disentangling goods, labor, and credit market frictions in three European economies," Working Paper Series 2015-22, Federal Reserve Bank of San Francisco.
    10. Nicolas Petrosky-Nadeau & Etienne Wasmer, 2015. "Macroeconomic Dynamics in a Model of Goods, Labor and Credit Market Frictions," Sciences Po Economics Publications (main) hal-03392977, HAL.
    11. Yoshiyasu Ono, 2017. "Country Size, Specialization Patterns and Secular Demand Stagnation," ISER Discussion Paper 1017, Institute of Social and Economic Research, The University of Osaka.
    12. Ken-ichi Hashimoto & Yoshiyasu Ono, 2019. "A simple aggregate demand analysis with dynamic optimization in a small open economy," ISER Discussion Paper 1061, Institute of Social and Economic Research, The University of Osaka.
    13. Boris Chafwehé & Rigas Oikonomou & Romanos Priftis & Lukas Vogel, 2021. "(Optimal) Monetary Policy with and without Debt," Staff Working Papers 21-5, Bank of Canada.
    14. Nicolas Petrosky-Nadeau & Etienne Wasmer, 2016. "The efficiency of surplus sharing," 2016 Meeting Papers 1318, Society for Economic Dynamics.
    15. Ikefuji, Masako & Ono, Yoshiyasu, 2024. "Environmental policies and stagnation in a two-country economy," Economic Modelling, Elsevier, vol. 141(C).
    16. Schoder, Christian, 2020. "A Keynesian Dynamic Stochastic Disequilibrium model for business cycle analysis," Economic Modelling, Elsevier, vol. 86(C), pages 117-132.
    17. Boris Chafwehe & Rigas Oikonomou & Romanos Priftis & Lukas Vogel, 2018. "Endogenous forward guidance," Working Paper Research 354, National Bank of Belgium.
    18. Ken-ichi Hashimoto & Kaz Miyagiwa & Yoshiyasu Ono & Matthias Schlegl, 2024. "Was Keynes right? A reconsideration of the effect of a protective tariff under stagnation," Working Papers 2409, Florida International University, Department of Economics.
    19. Pascal Michaillat & Emmanuel Saez, 2024. "Beveridgean Phillips Curve," Papers 2401.12475, arXiv.org, revised Oct 2024.
    20. Michaillat, Pascal & Saez, Emmanuel, 2019. "Resolving New Keynesian Anomalies with Wealth in the Utility Function," CEPR Discussion Papers 13775, C.E.P.R. Discussion Papers.
    21. Michaillat, Pascal, 2023. "Modeling Migration-Induced Unemployment," Santa Cruz Department of Economics, Working Paper Series qt4vq4j061, Department of Economics, UC Santa Cruz.
    22. Rehme, Günther, 2018. "On "rusting" money: Silvio Gesell's Schwundgeld reconsidered," Darmstadt Discussion Papers in Economics 233, Darmstadt University of Technology, Department of Law and Economics.
    23. Jochen O. Mierau & Mark Mink, 2018. "A Descriptive Model of Banking and Aggregate Demand," De Economist, Springer, vol. 166(2), pages 207-237, June.
    24. Joel P. Flynn & George Nikolakoudis & Karthik A. Sastry, 2026. "Pricing and Production Without the Invisible Hand," Cowles Foundation Discussion Papers 2501, Cowles Foundation for Research in Economics, Yale University.
    25. Jean-Baptiste Michau & Yoshiyasu Ono & Matthias Schlegl, 2018. "Wealth Preference and Rational Bubbles," CESifo Working Paper Series 7148, CESifo.
    26. Nobuyuki Hanaki & Yuta Shimodaira, 2024. "Wealth preferences and wealth inequality: Experimental evidence," ISER Discussion Paper 1260, Institute of Social and Economic Research, The University of Osaka.
    27. He, Qichun, 2024. "Wealth in the utility function, consumption subsidy, and long-run growth and welfare," Journal of Macroeconomics, Elsevier, vol. 82(C).
    28. xavier Ragot, 2019. "Managing Inequality over the Business Cycles: Optimal Policies with Heterogeneous Agents and Aggregate Shocks," 2019 Meeting Papers 1090, Society for Economic Dynamics.
    29. Hashimoto, Ken-ichi & Ono, Yoshiyasu & Schlegl, Matthias, 2023. "Structural unemployment, underemployment, and secular stagnation," Journal of Economic Theory, Elsevier, vol. 209(C).
    30. Yoshiyasu Ono, 2014. "Macroeconomic interdependence between a stagnant and a fully employed country," ISER Discussion Paper 0893rr, Institute of Social and Economic Research, The University of Osaka, revised Feb 2017.
    31. Chiara Fratto & Harald Uhlig, 2020. "Accounting for Post-Crisis Inflation: A Retro Analysis," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 35, pages 133-153, January.
    32. Yoshiyasu Ono, 2015. "Growth, Secular Stagnation and Wealth Preference," ISER Discussion Paper 0946, Institute of Social and Economic Research, The University of Osaka.
    33. Qichun He & Yulei Luo & Jun Nie & Heng-fu Zou, 2021. "Money, Growth, and Welfare in a Schumpeterian Model with the Spirit of Capitalism," CEMA Working Papers 615, China Economics and Management Academy, Central University of Finance and Economics.
    34. Wang, Gaowang & Zou, Heng-fu, 2025. "Romer Meets Weber-Schumpeter: The Spirit of Capitalism, Entrepreneurial Drive and Long-Run Growth," MPRA Paper 126518, University Library of Munich, Germany.
    35. Emanuele Franceschi, 2020. "A simple model of liquidity," PSE Working Papers halshs-02978552, HAL.
    36. Michau, Jean-Baptiste, 2018. "Secular stagnation: Theory and remedies," Journal of Economic Theory, Elsevier, vol. 176(C), pages 552-618.
    37. Murota, Ryu-ichiro, 2019. "Negative interest rate policy in a permanent liquidity trap," MPRA Paper 93498, University Library of Munich, Germany.
    38. Matthias Schlegl, 2018. "Secular Stagnation in an Economy with Land," ISER Discussion Paper 1032, Institute of Social and Economic Research, The University of Osaka.
    39. Weil, Philippe & Petrosky-Nadeau, Nicolas & Wasmer, Etienne, 2021. "When Hosios meets Phillips: Connecting efficiency and stability to demand shocks," CEPR Discussion Papers 15833, C.E.P.R. Discussion Papers.
    40. Ikefuji, Masako & Ono, Yoshiyasu, 2021. "Environmental policies in a stagnant economy," Economic Modelling, Elsevier, vol. 102(C).
    41. Landais, Camille & Michaillat, Pascal & Saez, Emmanuel, 2018. "A macroeconomic approach to optimal unemployment insurance: applications," LSE Research Online Documents on Economics 88303, London School of Economics and Political Science, LSE Library.
    42. Assenza, Tiziana & Cardaci, Alberto & Delli Gatti, Domenico & Grazzini, Jakob, 2018. "Policy experiments in an agent-based model with credit networks," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy, vol. 12, pages 1-17.
    43. Emmanuel Saez & Stefanie Stantcheva, 2016. "A Simpler Theory of Optimal Capital Taxation," NBER Working Papers 22664, National Bureau of Economic Research, Inc.
    44. Michaillat, Pascal & Saez, Emmanuel, 2019. "Beveridgean Unemployment Gap," CEPR Discussion Papers 14132, C.E.P.R. Discussion Papers.
    45. Thomas Aronsson & Sugata Ghosh & Ronald Wendner, 2023. "Positional preferences and efficiency in a dynamic economy," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 61(2), pages 311-337, August.
    46. Yang Ming & Heng-fu Zou, 2024. "The Spirit of Capitalism, Entrepreneurship, and Talent Allocation," Annals of Economics and Finance, Society for AEF, vol. 25(1), pages 1-29, May.
    47. Ryu-ichiro Murota & Yoshiyasu Ono, 2015. "Fiscal Policy under Long-run Stagnation: A New Interpretation of the Multiplier Effect," ISER Discussion Paper 0937, Institute of Social and Economic Research, The University of Osaka.
    48. Murota, Ryu-ichiro & Ono, Yoshiyasu, 2015. "Fiscal policy under deflationary gap and long-run stagnation: Reinterpretation of Keynesian multipliers," Economic Modelling, Elsevier, vol. 51(C), pages 596-603.
    49. Ken-ichi Hashimoto, 2026. "Effects of trade liberalization with heterogeneous firms under stagnation," ISER Discussion Paper 1310, Institute of Social and Economic Research, The University of Osaka.
    50. Vaishali Garga & Sanjay R. Singh, 2019. "Output Hysteresis and Optimal Monetary Policy," Working Papers 19-19, Federal Reserve Bank of Boston.

  11. Landais, Camille & Michaillat, Pascal & Saez, Emmanuel, 2018. "A macroeconomic approach to optimal unemployment insurance: theory," LSE Research Online Documents on Economics 88304, London School of Economics and Political Science, LSE Library.

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    1. Ioana Marinescu & Daphne Skandalis & Daniel Zhao, 2021. "The Impact of the Federal Pandemic Unemployment Compensation on Job Search and Vacancy Creation," NBER Working Papers 28567, National Bureau of Economic Research, Inc.
    2. Andreas Haller, Stefan Staubli, Josef Zweimüller, 2020. "Designing Disability Insurance Reforms: Tightening Eligibility Rules or Reducing Benefits?," Cahiers de recherche / Working Papers 5, Institut sur la retraite et l'épargne / Retirement and Savings Institute.
    3. Rich Ryan, 2023. "Discretionary Extensions to Unemployment Insurance Compensation and Some Potential Costs for a McCall Worker," Risks, MDPI, vol. 11(10), pages 1-39, September.
    4. Zweimüller, Josef, 2018. "Unemployment insurance and the labor market," Labour Economics, Elsevier, vol. 53(C), pages 1-14.
    5. Andreas Hornstein & Marios Karabarbounis & Andre Kurmann & Etienne Lale & Lien Ta, 2023. "Disincentive Effects of Unemployment Insurance Benefits," Working Paper 23-11, Federal Reserve Bank of Richmond.
    6. Camarero Garcia, Sebastian & Murmann, Martin, 2024. "Unemployment benefit duration and startup success," Discussion Papers 31/2024, Deutsche Bundesbank.
    7. Pawel Borys & Pawel Doligalski & Pawel Kopiec, 2021. "The Quantitative Importance of Technology and Demand Shocks for Unemployment Fluctuations in a Shopping Economy," Bristol Economics Discussion Papers 21/743, School of Economics, University of Bristol, UK.
    8. Edwyna Harris & Sumner La Croix, 2020. "South Australia’s Employment Relief Program for Assisted Immigrants: Promises and Reality, 1838-1843," Working Papers 202008, University of Hawaii at Manoa, Department of Economics.
    9. Ferey, Antoine, 2022. "Redistribution and Unemployment Insurance," Rationality and Competition Discussion Paper Series 345, CRC TRR 190 Rationality and Competition.
    10. Serdar Birinci, 2019. "Spousal Labor Supply Response to Job Displacement and Implications for Optimal Transfers," Working Papers 2019-020, Federal Reserve Bank of St. Louis, revised 04 Mar 2026.
    11. Xavier Pautrel, 2018. "Environmental policy and health in the presence of labor market imperfections," Working Papers halshs-01879558, HAL.
    12. Desmond Toohey, 2021. "The effects of unemployment insurance in late career: Evidence from Social Security offsets," Southern Economic Journal, John Wiley & Sons, vol. 88(2), pages 628-648, October.
    13. Mitman, Kurt & Rabinovich, Stanislav, 2021. "Whether, When and How to Extend Unemployment Benefits: Theory and Application to COVID-19," IZA Discussion Papers 14085, IZA Network @ LISER.
    14. Ndiaye, Abdoulaye & Herkenhoff, Kyle & Cissé, Abdoulaye & Dell’Acqua, Alessandro & Mbaye, Ahmadou A., 2025. "How to fund unemployment insurance with informality and false claims: Evidence from Senegal," Journal of Monetary Economics, Elsevier, vol. 150(C).
    15. Giupponi, Giulia & Landais, Camille, 2023. "Subsidizing labour hoarding in recessions: the employment and welfare effects of short-time work," LSE Research Online Documents on Economics 115372, London School of Economics and Political Science, LSE Library.
    16. Pora, Pierre & Wilner, Lionel, 2020. "A decomposition of labor earnings growth: Recovering Gaussianity?," Labour Economics, Elsevier, vol. 63(C).
    17. Peter Ganong & Fiona Greig & Max Liebeskind & Pascal Noel & Daniel Sullivan & Joseph Vavra, 2021. "Spending and Job Search Impacts of Expanded Unemployment Benefits: Evidence from Administrative Micro Data," Working Papers 2021-19, Becker Friedman Institute for Research In Economics.
    18. Ignaszak, Marek & Jung, Philip & Kuester, Keith, 2020. "Federal Unemployment Reinsurance and Local Labor-Market Policies," IZA Discussion Papers 13886, IZA Network @ LISER.
    19. Russell Wong & Guillaume Rocheteau & Zachary Bethune, 2017. "Unemployment, Aggregate Demand, and the Distribution of Liquidity," 2017 Meeting Papers 760, Society for Economic Dynamics.
    20. Peter Ganong & Fiona Greig & Pascal Noel & Daniel M. Sullivan & Joseph Vavra, 2024. "Spending and Job-Finding Impacts of Expanded Unemployment Benefits: Evidence from Administrative Micro Data," American Economic Review, American Economic Association, vol. 114(9), pages 2898-2939, September.
    21. Mishel Ghassibe & Francesco Zanetti, 2022. "State Dependence of Fiscal Multipliers: the Source of Fluctuations Matters," BCAM Working Papers 2204, Birkbeck Centre for Applied Macroeconomics.
    22. Moritz Drechsel-Grau, 2023. "Employment and Reallocation Effects of Higher Minimum Wages," CESifo Working Paper Series 10412, CESifo.
    23. Martin Gervais & Lawrence Warren & Reza Boostani, 2022. "Optimal unemployment insurance in a directed search model," Economic Inquiry, Western Economic Association International, vol. 60(4), pages 1473-1496, October.
    24. James Roumasset, 2020. "Clubs, Coase, and the Role of Government," Working Papers 202007, University of Hawaii at Manoa, Department of Economics.
    25. van Rens, Thijs & Merkl, Christian, 2018. "Selective Hiring and Welfare Analysis in Labor Market Models," CEPR Discussion Papers 13272, C.E.P.R. Discussion Papers.
    26. Dieterle, Steven G. & Bartalotti, Otávio & Brummet, Quentin, 2018. "Revisiting the Effects of Unemployment Insurance Extensions on Unemployment: A Measurement Error-Corrected Regression Discontinuity Approach," IZA Discussion Papers 11496, IZA Network @ LISER.
    27. Emmanuel Saez & Benjamin Schoefer & David Seim, 2017. "Payroll Taxes, Firm Behavior, and Rent Sharing: Evidence from a Young Workers' Tax Cut in Sweden," NBER Working Papers 23976, National Bureau of Economic Research, Inc.
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    29. Yavuz Arslan & Ahmet Degerli & Bulent Guler & Burhanettin Kurusçu, 2024. "Unemployment Insurance and Macro-Financial (In)Stability," Finance and Economics Discussion Series 2024-087, Board of Governors of the Federal Reserve System (U.S.).
    30. Arash Nekoei & Andrea Weber, 2017. "Does Extending Unemployment Benefits Improve Job Quality?," American Economic Review, American Economic Association, vol. 107(2), pages 527-561, February.
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    32. Serdar Birinci & Kurt See, 2019. "Labor Market Responses to Unemployment Insurance: The Role of Heterogeneity," Working Papers 2019-022, Federal Reserve Bank of St. Louis, revised Nov 2021.
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    34. Perez Perez, Jorge, 2020. "City Minimum Wages and Spatial Equilibrium Effects," SocArXiv fpx9e, Center for Open Science.
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    36. Pizzo, Alessandra & Villena-Roldán, Benjamin, 2024. "Labor markets, wage Inequality, and hiring selection," MPRA Paper 120281, University Library of Munich, Germany.
    37. Gałecka-Burdziak, Ewa & Gora, Marek & Jessen, Jonas & Jessen, Robin & Kluve, Jochen, 2022. "The Effects of Shortening Potential Benefit Duration: Evidence from Regional Cut-offs and a Policy Reform," VfS Annual Conference 2022 (Basel): Big Data in Economics 264046, Verein für Socialpolitik / German Economic Association.
    38. Serdar Birinci & Kurt See, 2020. "How Should Unemployment Insurance Vary over the Business Cycle?," Staff Working Papers 20-47, Bank of Canada.
    39. Javier López Segovia, 2023. "Consumption Commitments and Unemployment Insurance," CRC TR 224 Discussion Paper Series crctr224_2023_458, University of Bonn and University of Mannheim, Germany.
    40. Alexander Ahammer & Analisa Packham, 2020. "Dying to Work: Effects of Unemployment Insurance on Health," NBER Working Papers 27267, National Bureau of Economic Research, Inc.
    41. Spinnewijn, Johannes, 2020. "The trade-off between insurance and incentives in differentiated unemployment policies," LSE Research Online Documents on Economics 104718, London School of Economics and Political Science, LSE Library.
    42. Lee, Kangoh, 2022. "Unemployment insurance, mobile capital, output, and distributive effects," Economic Modelling, Elsevier, vol. 115(C).
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    44. Loukas Karabarbounis & Gabriel Chodorow-Reich, 2017. "The Limited Macroeconomic Effects of Unemployment Benefit Extensions," 2017 Meeting Papers 834, Society for Economic Dynamics.
    45. Youssef Benzarti & Jarkko Harju, 2020. "Can Payroll Tax Cuts Help Firms During Recessions?," NBER Working Papers 27485, National Bureau of Economic Research, Inc.
    46. Philipp Mohl & Gilles Mourre & Klara Stovicek, 2019. "Automatic Fiscal Stabilisers in the EU: Size and Effectiveness," European Economy - Economic Briefs 045, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
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    48. Moyen, Stéphane & Stähler, Nikolai & Winkler, Fabian, 2019. "Optimal unemployment insurance and international risk sharing," European Economic Review, Elsevier, vol. 115(C), pages 144-171.
    49. Serdar Birinci & Fatih Karahan & Yusuf Mercan & Kurt See, 2020. "Labor Market Policies During an Epidemic," Staff Working Papers 20-54, Bank of Canada.
    50. Pei, Yun & Xie, Zoe, 2021. "A quantitative theory of time-consistent unemployment insurance," Journal of Monetary Economics, Elsevier, vol. 117(C), pages 848-870.
    51. Giulia Giupponi & Camille Landais & Alice Lapeyre, 2022. "Should We Insure Workers or Jobs during Recessions?," Journal of Economic Perspectives, American Economic Association, vol. 36(2), pages 29-54, Spring.
    52. Kory Kroft & Fabian Lange & Matthew J. Notowidigdo & Matthew Tudball, 2018. "Long Time Out: Unemployment and Joblessness in Canada and the United States," NBER Working Papers 25236, National Bureau of Economic Research, Inc.
    53. Huang, Po-Chun & Yang, Tzu-Ting, 2016. "Evaluation of optimal unemployment insurance with reemployment bonuses using regression discontinuity (kink) design," CLEF Working Paper Series 2, Canadian Labour Economics Forum (CLEF), University of Waterloo.
    54. Dami'an Vergara, 2022. "Minimum Wages and Optimal Redistribution," Papers 2202.00839, arXiv.org, revised Dec 2022.
    55. Zhifeng Cai & Jonathan Heathcote, 2023. "The Great Resignation and Optimal Unemployment Insurance," Staff Report 652, Federal Reserve Bank of Minneapolis.
    56. Guo, Audrey, 2020. "The Effects of Unemployment Insurance Taxation on Multi-Establishment Firms," MPRA Paper 97919, University Library of Munich, Germany.
    57. Landais, Camille & Giupponi, Giulia, 2018. "Subsidizing Labor Hoarding in Recessions: The Employment & Welfare Effects of Short Time Work," CEPR Discussion Papers 13310, C.E.P.R. Discussion Papers.
    58. Adam M. Lavecchia, 2018. "Minimum Wage Policy with Optimal Taxes and Unemployment," Working Papers 1801E, University of Ottawa, Department of Economics.
    59. Kohlbrecher, Britta, 2019. "The (ir)relevance of real wage rigidity for optimal monetary policy," FAU Discussion Papers in Economics 07/2019, Friedrich-Alexander University Erlangen-Nuremberg, Institute for Economics.
    60. Kory Kroft & Kavan Kucko & Etienne Lehmann & Johannes Friedrich Schmieder, 2017. "Optimal Income Taxation with Unemployment and Wage Responses: A Sufficient Statistics Approach," CESifo Working Paper Series 6686, CESifo.
    61. Hochmuth, Brigitte & Kohlbrecher, Britta & Merkl, Christian & Gartner, Hermann, 2021. "Hartz IV and the decline of German unemployment: A macroeconomic evaluation," Journal of Economic Dynamics and Control, Elsevier, vol. 127(C).
    62. Nils Mattis Gornemann, 2018. "HANK meets Ramsey: Optimal Coordination of Monetary and Labor Market Policies," 2018 Meeting Papers 1252, Society for Economic Dynamics.
    63. David S. Lee & Pauline Leung & Christopher J. O'Leary & Zhuan Pei & Simon Quach, 2019. "Are Sufficient Statistics Necessary? Nonparametric Measurement of Deadweight Loss from Unemployment Insurance," NBER Working Papers 25574, National Bureau of Economic Research, Inc.
    64. Marinescu, Ioana, 2019. "Reprint of: The general equilibrium impacts of unemployment insurance: Evidence from a large online job board," Journal of Public Economics, Elsevier, vol. 171(C), pages 70-85.
    65. Pleninger, Regina, 2022. "Impact of natural disasters on the income distribution," World Development, Elsevier, vol. 157(C).
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    72. Tomaz Cajner & İlhan Güner & Toshihiko Mukoyama, 2025. "Gross Worker Flows over the Life Cycle," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 57(4), pages 757-791, June.
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    75. Martin Scheffel & Tom Krebs, 2017. "Labor Market Institutions and the Cost of Recessions," 2017 Meeting Papers 1438, Society for Economic Dynamics.
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    97. Germain, Antoine, 2025. "Working time reductions and monopsony power," LIDAM Discussion Papers CORE 2025010, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    98. Sainsbury, Tristram & Breunig, Robert & Watson, Timothy, 2022. "COVID-19 Private Pension Withdrawals and Unemployment Tenures," IZA Discussion Papers 15399, IZA Network @ LISER.
    99. Mercan, Yusuf & Schoefer, Benjamin & SedlÃ¡Ä ek, Petr, 2022. "A Congestion Theory of Unemployment Fluctuations," CEPR Discussion Papers 15500, C.E.P.R. Discussion Papers.
    100. Andersen, Torben M. & Kristoffersen, Mark Strøm & Svarer, Michael, 2018. "Benefit reentitlement conditions in unemployment insurance schemes," Labour Economics, Elsevier, vol. 52(C), pages 27-39.
    101. Zamanzadeh, Akbar & Chan, Marc K. & Ehsani, Mohammad Ali & Ganjali, Mojtaba, 2020. "Unemployment duration, Fiscal and monetary policies, and the output gap: How do the quantile relationships look like?," Economic Modelling, Elsevier, vol. 91(C), pages 613-632.
    102. Arslan, Yavuz & Degerli, Ahmet & Kabaș, Gazi, 2025. "Unintended consequences of unemployment insurance benefits: The role of banks," Other publications TiSEM 5fc90c43-e373-427b-8083-e, Tilburg University, School of Economics and Management.
    103. Edwyna Harris & Sumner La Croix, 2020. "South Australia’s Employment Relief Program for Assisted Immigrants: Promises and Reality, 1838-1843," CEH Discussion Papers 03, Centre for Economic History, Research School of Economics, Australian National University.
    104. Meier, Mario & Obermeier, Tim, 2024. "Employer screening and optimal unemployment insurance," LSE Research Online Documents on Economics 126865, London School of Economics and Political Science, LSE Library.

  12. Landais, Camille & Michaillat, Pascal & Saez, Emmanuel, 2018. "A macroeconomic approach to optimal unemployment insurance: applications," LSE Research Online Documents on Economics 88303, London School of Economics and Political Science, LSE Library.

    Cited by:

    1. Ioana Marinescu & Daphne Skandalis & Daniel Zhao, 2021. "The Impact of the Federal Pandemic Unemployment Compensation on Job Search and Vacancy Creation," NBER Working Papers 28567, National Bureau of Economic Research, Inc.
    2. Karahan, Fatih & Mitman, Kurt & Moore, Brendan, 2019. "Individual and Market-Level Effects of UI Policies: Evidence from Missouri," IZA Discussion Papers 12805, IZA Network @ LISER.
    3. Andreas Haller, Stefan Staubli, Josef Zweimüller, 2020. "Designing Disability Insurance Reforms: Tightening Eligibility Rules or Reducing Benefits?," Cahiers de recherche / Working Papers 5, Institut sur la retraite et l'épargne / Retirement and Savings Institute.
    4. Zweimüller, Josef, 2018. "Unemployment insurance and the labor market," Labour Economics, Elsevier, vol. 53(C), pages 1-14.
    5. Cynthia L. Doniger, 2022. "These Caps Spilleth Over: Equilibrium Effects of Unemployment Insurance," Finance and Economics Discussion Series 2022-074, Board of Governors of the Federal Reserve System (U.S.).
    6. Andreas Hornstein & Marios Karabarbounis & Andre Kurmann & Etienne Lale & Lien Ta, 2023. "Disincentive Effects of Unemployment Insurance Benefits," Working Paper 23-11, Federal Reserve Bank of Richmond.
    7. Camarero Garcia, Sebastian & Murmann, Martin, 2024. "Unemployment benefit duration and startup success," Discussion Papers 31/2024, Deutsche Bundesbank.
    8. Pawel Borys & Pawel Doligalski & Pawel Kopiec, 2021. "The Quantitative Importance of Technology and Demand Shocks for Unemployment Fluctuations in a Shopping Economy," Bristol Economics Discussion Papers 21/743, School of Economics, University of Bristol, UK.
    9. Edwyna Harris & Sumner La Croix, 2020. "South Australia’s Employment Relief Program for Assisted Immigrants: Promises and Reality, 1838-1843," Working Papers 202008, University of Hawaii at Manoa, Department of Economics.
    10. Ferey, Antoine, 2022. "Redistribution and Unemployment Insurance," Rationality and Competition Discussion Paper Series 345, CRC TRR 190 Rationality and Competition.
    11. Seim, David & Schoefer, Benjamin & Saez, Emmanuel, 2017. "Payroll Taxes, Firm Behavior, and Rent Sharing: Evidence from a Young Workers' Tax Cut in Sweden," CEPR Discussion Papers 12391, C.E.P.R. Discussion Papers.
    12. Serdar Birinci, 2019. "Spousal Labor Supply Response to Job Displacement and Implications for Optimal Transfers," Working Papers 2019-020, Federal Reserve Bank of St. Louis, revised 04 Mar 2026.
    13. Xavier Pautrel, 2018. "Environmental policy and health in the presence of labor market imperfections," Working Papers halshs-01879558, HAL.
    14. Desmond Toohey, 2021. "The effects of unemployment insurance in late career: Evidence from Social Security offsets," Southern Economic Journal, John Wiley & Sons, vol. 88(2), pages 628-648, October.
    15. Serdar Birinci & Kurt Gerrard See, 2018. "How Should Unemployment Insurance vary over the Business Cycle?," 2018 Meeting Papers 69, Society for Economic Dynamics.
    16. Mitman, Kurt & Rabinovich, Stanislav, 2021. "Whether, When and How to Extend Unemployment Benefits: Theory and Application to COVID-19," IZA Discussion Papers 14085, IZA Network @ LISER.
    17. Ndiaye, Abdoulaye & Herkenhoff, Kyle & Cissé, Abdoulaye & Dell’Acqua, Alessandro & Mbaye, Ahmadou A., 2025. "How to fund unemployment insurance with informality and false claims: Evidence from Senegal," Journal of Monetary Economics, Elsevier, vol. 150(C).
    18. Giupponi, Giulia & Landais, Camille, 2023. "Subsidizing labour hoarding in recessions: the employment and welfare effects of short-time work," LSE Research Online Documents on Economics 115372, London School of Economics and Political Science, LSE Library.
    19. Pora, Pierre & Wilner, Lionel, 2020. "A decomposition of labor earnings growth: Recovering Gaussianity?," Labour Economics, Elsevier, vol. 63(C).
    20. Ignaszak, Marek & Jung, Philip & Kuester, Keith, 2020. "Federal Unemployment Reinsurance and Local Labor-Market Policies," IZA Discussion Papers 13886, IZA Network @ LISER.
    21. Arindrajit Dube, 2021. "Aggregate Employment Effects of Unemployment Benefits During Deep Downturns: Evidence from the Expiration of the Federal Pandemic Unemployment Compensation," NBER Working Papers 28470, National Bureau of Economic Research, Inc.
    22. Peter Ganong & Fiona Greig & Pascal Noel & Daniel M. Sullivan & Joseph Vavra, 2024. "Spending and Job-Finding Impacts of Expanded Unemployment Benefits: Evidence from Administrative Micro Data," American Economic Review, American Economic Association, vol. 114(9), pages 2898-2939, September.
    23. Mishel Ghassibe & Francesco Zanetti, 2022. "State Dependence of Fiscal Multipliers: the Source of Fluctuations Matters," BCAM Working Papers 2204, Birkbeck Centre for Applied Macroeconomics.
    24. Wunsch, Conny & Zabrodina, Véra, 2023. "Unemployment Insurance with Response Heterogeneity," IZA Discussion Papers 16509, IZA Network @ LISER.
    25. Karahan, Fatih & Mitman, Kurt & Moore, Brendan, 2022. "Micro and Macro Effects of UI Policies: Evidence from Missouri," CEPR Discussion Papers 14158, C.E.P.R. Discussion Papers.
    26. James Roumasset, 2020. "Clubs, Coase, and the Role of Government," Working Papers 202007, University of Hawaii at Manoa, Department of Economics.
    27. Dieterle, Steven G. & Bartalotti, Otávio & Brummet, Quentin, 2018. "Revisiting the Effects of Unemployment Insurance Extensions on Unemployment: A Measurement Error-Corrected Regression Discontinuity Approach," IZA Discussion Papers 11496, IZA Network @ LISER.
    28. Duha T. Altindag & Bahadіr Dursun & Elif S. Filiz, 2022. "The effect of education on unemployment duration," Economic Inquiry, Western Economic Association International, vol. 60(1), pages 21-42, January.
    29. Yavuz Arslan & Ahmet Degerli & Bulent Guler & Burhanettin Kurusçu, 2024. "Unemployment Insurance and Macro-Financial (In)Stability," Finance and Economics Discussion Series 2024-087, Board of Governors of the Federal Reserve System (U.S.).
    30. Alzate,David & Eliana Carranza & Duran-Franch,Joana & Truman G. Packard & Celina Proffen, 2024. "How Regulations Impact the Labor Market : A Review of the Literatures on Product and Labor Market Regulations," Policy Research Working Paper Series 10961, The World Bank.
    31. Serdar Birinci & Kurt See, 2019. "Labor Market Responses to Unemployment Insurance: The Role of Heterogeneity," Working Papers 2019-022, Federal Reserve Bank of St. Louis, revised Nov 2021.
    32. Serdar Birinci & Kurt See, 2024. "The Implications of Labor Market Heterogeneity for Unemployment Insurance Design," Working Papers 2024-026, Federal Reserve Bank of St. Louis, revised 23 Jan 2026.
    33. Perez Perez, Jorge, 2020. "City Minimum Wages and Spatial Equilibrium Effects," SocArXiv fpx9e, Center for Open Science.
    34. David Romer, "undated". "The Social Insurance Perspective on Fiscal Policy: Implications for Monetary Policy," RBA Annual Conference Papers acp2025-04, Reserve Bank of Australia, revised Nov 2025.
    35. Pizzo, Alessandra & Villena-Roldán, Benjamin, 2024. "Labor markets, wage Inequality, and hiring selection," MPRA Paper 120281, University Library of Munich, Germany.
    36. Gałecka-Burdziak, Ewa & Gora, Marek & Jessen, Jonas & Jessen, Robin & Kluve, Jochen, 2022. "The Effects of Shortening Potential Benefit Duration: Evidence from Regional Cut-offs and a Policy Reform," VfS Annual Conference 2022 (Basel): Big Data in Economics 264046, Verein für Socialpolitik / German Economic Association.
    37. Javier López Segovia, 2023. "Consumption Commitments and Unemployment Insurance," CRC TR 224 Discussion Paper Series crctr224_2023_458, University of Bonn and University of Mannheim, Germany.
    38. Ken-ichi Hashimoto & Yoshiyasu Ono & Matthias Schlegl, 2020. "Structural Unemployment, Underemployment, and Secular Stagnation," CESifo Working Paper Series 8318, CESifo.
    39. Alexander Ahammer & Analisa Packham, 2020. "Dying to Work: Effects of Unemployment Insurance on Health," NBER Working Papers 27267, National Bureau of Economic Research, Inc.
    40. Spinnewijn, Johannes, 2020. "The trade-off between insurance and incentives in differentiated unemployment policies," LSE Research Online Documents on Economics 104718, London School of Economics and Political Science, LSE Library.
    41. Lee, Kangoh, 2022. "Unemployment insurance, mobile capital, output, and distributive effects," Economic Modelling, Elsevier, vol. 115(C).
    42. Youssef Benzarti & Jarkko Harju, 2020. "Can Payroll Tax Cuts Help Firms During Recessions?," NBER Working Papers 27485, National Bureau of Economic Research, Inc.
    43. Philipp Mohl & Gilles Mourre & Klara Stovicek, 2019. "Automatic Fiscal Stabilisers in the EU: Size and Effectiveness," European Economy - Economic Briefs 045, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    44. Martin Gonzalez-Rozada & Hernan Ruffo, 2022. "The welfare effects of unemployment insurance in Argentina. New estimates using changes in the schedule of transfers," Papers 2202.01844, arXiv.org.
    45. Moyen, Stéphane & Stähler, Nikolai & Winkler, Fabian, 2019. "Optimal unemployment insurance and international risk sharing," European Economic Review, Elsevier, vol. 115(C), pages 144-171.
    46. Serdar Birinci & Fatih Karahan & Yusuf Mercan & Kurt See, 2020. "Labor Market Policies During an Epidemic," Staff Working Papers 20-54, Bank of Canada.
    47. Pei, Yun & Xie, Zoe, 2021. "A quantitative theory of time-consistent unemployment insurance," Journal of Monetary Economics, Elsevier, vol. 117(C), pages 848-870.
    48. Giulia Giupponi & Camille Landais & Alice Lapeyre, 2022. "Should We Insure Workers or Jobs during Recessions?," Journal of Economic Perspectives, American Economic Association, vol. 36(2), pages 29-54, Spring.
    49. Kory Kroft & Fabian Lange & Matthew J. Notowidigdo & Matthew Tudball, 2018. "Long Time Out: Unemployment and Joblessness in Canada and the United States," NBER Working Papers 25236, National Bureau of Economic Research, Inc.
    50. Huang, Po-Chun & Yang, Tzu-Ting, 2016. "Evaluation of optimal unemployment insurance with reemployment bonuses using regression discontinuity (kink) design," CLEF Working Paper Series 2, Canadian Labour Economics Forum (CLEF), University of Waterloo.
    51. Dami'an Vergara, 2022. "Minimum Wages and Optimal Redistribution," Papers 2202.00839, arXiv.org, revised Dec 2022.
    52. Zhifeng Cai & Jonathan Heathcote, 2023. "The Great Resignation and Optimal Unemployment Insurance," Staff Report 652, Federal Reserve Bank of Minneapolis.
    53. Guo, Audrey, 2020. "The Effects of Unemployment Insurance Taxation on Multi-Establishment Firms," MPRA Paper 97919, University Library of Munich, Germany.
    54. Landais, Camille & Giupponi, Giulia, 2018. "Subsidizing Labor Hoarding in Recessions: The Employment & Welfare Effects of Short Time Work," CEPR Discussion Papers 13310, C.E.P.R. Discussion Papers.
    55. Kohlbrecher, Britta, 2019. "The (ir)relevance of real wage rigidity for optimal monetary policy," FAU Discussion Papers in Economics 07/2019, Friedrich-Alexander University Erlangen-Nuremberg, Institute for Economics.
    56. Hochmuth, Brigitte & Kohlbrecher, Britta & Merkl, Christian & Gartner, Hermann, 2021. "Hartz IV and the decline of German unemployment: A macroeconomic evaluation," Journal of Economic Dynamics and Control, Elsevier, vol. 127(C).
    57. David S. Lee & Pauline Leung & Christopher J. O'Leary & Zhuan Pei & Simon Quach, 2019. "Are Sufficient Statistics Necessary? Nonparametric Measurement of Deadweight Loss from Unemployment Insurance," NBER Working Papers 25574, National Bureau of Economic Research, Inc.
    58. Pleninger, Regina, 2022. "Impact of natural disasters on the income distribution," World Development, Elsevier, vol. 157(C).
    59. Fredriksson, Peter & Söderström, Martin, 2020. "The equilibrium impact of unemployment insurance on unemployment: Evidence from a non-linear policy rule," Journal of Public Economics, Elsevier, vol. 187(C).
    60. Kyyrä, Tomi & Pesola, Hanna & Rissanen, Aarne, 2017. "Unemployment Insurance in Finland: A Review of Recent Changes and Empirical Evidence on Behavioral Responses," Research Reports 184, VATT Institute for Economic Research.
    61. Epstein, Brendan & Nunn, Ryan & Orak, Musa & Patel, Elena, 2023. "Taxation, social welfare, and labor market frictions," European Economic Review, Elsevier, vol. 151(C).
    62. Gerritsen, Aart, 2017. "Equity and efficiency in rationed labor markets," Journal of Public Economics, Elsevier, vol. 153(C), pages 56-68.
    63. Scott, Dana & Finamor, Lucas, 2020. "Employment Effects of Unemployment Insurance Generosity During the Pandemic," MPRA Paper 102390, University Library of Munich, Germany.
    64. Erik Eyster & Kristof Madarasz & Pascal Michaillat, 2019. "Pricing under Fairness Concerns," Papers 1904.05656, arXiv.org, revised Aug 2020.
    65. Tomaz Cajner & İlhan Güner & Toshihiko Mukoyama, 2025. "Gross Worker Flows over the Life Cycle," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 57(4), pages 757-791, June.
    66. Cynthia Doniger, 2023. "Wage Dispersion with Heterogeneous Wage Contracts," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 51, pages 138-160, December.
    67. Pei, Yun & Xie, Zoe, 2022. "Timing and time inconsistency in search models," Economics Letters, Elsevier, vol. 220(C).
    68. Patrick J. Conway, 2022. "Unemployment insurance programs and the choice to leave the labor force," Southern Economic Journal, John Wiley & Sons, vol. 88(4), pages 1373-1400, April.
    69. Elira Kuka, 2020. "Quantifying the Benefits of Social Insurance: Unemployment Insurance and Health," The Review of Economics and Statistics, MIT Press, vol. 102(3), pages 490-505, July.
    70. Guillaume Wilemme, 2021. "Optimal Taxation to Correct Job Mismatching," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 40, pages 170-197, April.
    71. Fackler, Daniel & Stegmaier, Jens & Weigt, Eva, 2019. "Does extended unemployment benefit duration ameliorate the negative employment effects of job loss?," Labour Economics, Elsevier, vol. 59(C), pages 123-138.
    72. Michaillat, Pascal & Saez, Emmanuel, 2019. "Beveridgean Unemployment Gap," CEPR Discussion Papers 14132, C.E.P.R. Discussion Papers.
    73. Tomer Ifergane, 2022. "Time to Say Goodbye: The Macroeconomic Implications of Termination Notice," Discussion Papers 2212, Centre for Macroeconomics (CFM).
    74. Thomas Dengler & Britta Gehrke, 2022. "Short-Time Work and Precautionary Savings," CESifo Working Paper Series 9873, CESifo.
    75. McKay, Alisdair & Reis, Ricardo, 2021. "Optimal automatic stabilizers," LSE Research Online Documents on Economics 108180, London School of Economics and Political Science, LSE Library.
    76. Erhan Bayraktar & Indrajit Mitra & Jingjie Zhang, 2024. "Countercyclical unemployment benefits: a general equilibrium analysis of transition dynamics," Mathematics and Financial Economics, Springer, volume 18, number 3, December.
    77. Kory Kroft & Kavan Kucko & Etienne Lehmann & Johannes Schmieder, 2020. "Optimal Income Taxation with Unemployment and Wage Responses: A Sufficient Statistics Approach," American Economic Journal: Economic Policy, American Economic Association, vol. 12(1), pages 254-292, February.
    78. Rujiwattanapong, W. Similan, 2025. "Unemployment dynamics and endogenous unemployment insurance extensions," European Economic Review, Elsevier, vol. 178(C).
    79. Luca Coraggio & Monica Langella & Armando Miano & Marco Pagano & Marco Stenborg Petterson & Vincenzo Petone & Annalisa Scognamiglio, 2024. "Mismatch in the 21st Century:An Overview," CSEF Working Papers 745, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
    80. Hummel, Albert Jan, 2025. "Unemployment and tax design," Journal of Public Economics, Elsevier, vol. 246(C).
    81. Benoît Bayenet & Ilan Tojerow & Martin Rodriguez Conde & Anna Zaytseva, 2024. "Limitation des allocations de chômage dans le temps :une mesure efficace ?," Dulbea Policy Brief 24.08, ULB -- Universite Libre de Bruxelles.
    82. Joaquín Herrera & Martin González-Rozada & Hernan Ruffo, 2025. "The Fiscal Costs of Unemployment Insurance," Department of Economics Working Papers 2025_09, Universidad Torcuato Di Tella.
    83. Matusche, Alexander, 2025. "The short-run employment effects of public infrastructure investment," European Economic Review, Elsevier, vol. 177(C).
    84. Wee, Shu Lin, 2025. "Optimal unemployment insurance with multiple applications," Journal of Monetary Economics, Elsevier, vol. 154(C).
    85. Sebastian Camarero Garcia & Martin Murmann, 2025. "How unemployment benefit duration shapes startup motivation and growth," Small Business Economics, Springer, vol. 64(4), pages 1565-1600, April.
    86. Boadway,Robin & Cuff,Katherine, 2022. "Tax Policy," Cambridge Books, Cambridge University Press, number 9781108949453, Enero-Abr.
    87. Wei, Feng & Yip, Chi Man, 2025. "The ins and outs of employment: Labor market adjustments to carbon taxes," European Economic Review, Elsevier, vol. 179(C).
    88. Stephane Auray & Aurelien Eyquem, 2024. "Optimal Unemployment Insurance in a THANK Model," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 53, pages 173-193, July.
    89. Germain, Antoine, 2025. "Working time reductions and monopsony power," LIDAM Discussion Papers CORE 2025010, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    90. Sainsbury, Tristram & Breunig, Robert & Watson, Timothy, 2022. "COVID-19 Private Pension Withdrawals and Unemployment Tenures," IZA Discussion Papers 15399, IZA Network @ LISER.
    91. Mercan, Yusuf & Schoefer, Benjamin & SedlÃ¡Ä ek, Petr, 2022. "A Congestion Theory of Unemployment Fluctuations," CEPR Discussion Papers 15500, C.E.P.R. Discussion Papers.
    92. Zamanzadeh, Akbar & Chan, Marc K. & Ehsani, Mohammad Ali & Ganjali, Mojtaba, 2020. "Unemployment duration, Fiscal and monetary policies, and the output gap: How do the quantile relationships look like?," Economic Modelling, Elsevier, vol. 91(C), pages 613-632.
    93. Arslan, Yavuz & Degerli, Ahmet & Kabaș, Gazi, 2025. "Unintended consequences of unemployment insurance benefits: The role of banks," Other publications TiSEM 5fc90c43-e373-427b-8083-e, Tilburg University, School of Economics and Management.
    94. Edwyna Harris & Sumner La Croix, 2020. "South Australia’s Employment Relief Program for Assisted Immigrants: Promises and Reality, 1838-1843," CEH Discussion Papers 03, Centre for Economic History, Research School of Economics, Australian National University.

  13. Pascal Michaillat & Emmanuel Saez, 2018. "A New Keynesian Model with Wealth in the Utility Function," 2018 Meeting Papers 1276, Society for Economic Dynamics.

    Cited by:

    1. Ansgar Rannenberg, 2019. "Inequality, the risk of secular stagnation and the increase in household deb," Working Paper Research 375, National Bank of Belgium.
    2. Sergeyev, Dmitriy & Mehrotra, Neil, 2020. "Debt Sustainability in a Low Interest Rate World," CEPR Discussion Papers 15282, C.E.P.R. Discussion Papers.
    3. Sanjay R. Singh & Pablo Cuba-Borda, 2019. "Understanding Persistent Stagnation," Working Papers 329, University of California, Davis, Department of Economics.
    4. Paul Beaudry & Césaire Meh, 2021. "Monetary Policy, Trends in Real Interest Rates and Depressed Demand," Staff Working Papers 21-27, Bank of Canada.
    5. Christoffel, Kai & Mazelis, Falk & Montes-Galdón, Carlos & Müller, Tobias, 2020. "Disciplining expectations and the forward guidance puzzle," Working Paper Series 2424, European Central Bank.
    6. Leon Podkaminer, 2021. "Dynamic Stochastic General Equilibrium: macroeconomics at a dead end," Bank i Kredyt, Narodowy Bank Polski, vol. 52(2), pages 97-122.
    7. Melosi, Leonardo & Campbell, Jeffrey & Ferroni, Filippo & Fisher, Jonas, 2019. "The Limits of Forward Guidance," CEPR Discussion Papers 13612, C.E.P.R. Discussion Papers.
    8. Jeffrey Campbell & Jacob Weber, 2021. "Discretion rather than rules: Equilibrium uniqueness and forward guidance with inconsistent optimal plans," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 41, pages 243-254, July.
    9. Paul Beaudry & Katya Kartashova & Césaire Meh, 2023. "Gazing at r-star: A Hysteresis Perspective," Staff Working Papers 23-5, Bank of Canada.
    10. Mehrotra, Neil R. & Sergeyev, Dmitriy, 2021. "Debt sustainability in a low interest rate world," Journal of Monetary Economics, Elsevier, vol. 124(S), pages 1-18.
    11. Sebastian Gechert & Jan Siebert, 2019. "Preferences over wealth," IMK Working Paper 200-2019, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    12. Jean-Baptiste Michau & Yoshiyasu Ono & Matthias Schlegl, 2018. "Wealth Preference and Rational Bubbles," CESifo Working Paper Series 7148, CESifo.
    13. Glover, Andrew, 2019. "Aggregate effects of minimum wage regulation at the zero lower bound," Journal of Monetary Economics, Elsevier, vol. 107(C), pages 114-128.
    14. Bredemeier, Christian & Kaufmann, Christoph & Schabert, Andreas, 2018. "Interest rate spreads and forward guidance," Working Paper Series 2186, European Central Bank.
    15. Ansgar Rannenberg, 2019. "Forward guidance with preferences over safe assets," Working Paper Research 364, National Bank of Belgium.
    16. Erik Eyster & Kristof Madarasz & Pascal Michaillat, 2019. "Pricing under Fairness Concerns," Papers 1904.05656, arXiv.org, revised Aug 2020.
    17. Behzad Diba & Olivier Loisel, 2019. "Pegging the Interest Rate on Bank Reserves: A Resolution of New Keynesian Puzzles and Paradoxes," Working Papers gueconwpa~19-19-05, Georgetown University, Department of Economics.
    18. Gechert, Sebastian & Siebert, Jan, 2022. "Preferences over wealth: Experimental evidence," Journal of Economic Behavior & Organization, Elsevier, vol. 200(C), pages 1297-1317.
    19. Lai, Shuying & Qiu, Jing & Tao, Yuechuan & Zhao, Junhua, 2021. "Risk hedging for gas power generation considering power-to-gas energy storage in three different electricity markets," Applied Energy, Elsevier, vol. 291(C).
    20. Petar Peshev, 2023. "Estimation of the Value, Distribution and Concentration of Wealth in Bulgaria, 1995-2020," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 3, pages 104-129.

  14. Michaillat, Pascal & Akerlof, George, 2017. "Beetles: Biased Promotions and Persistence of False Belief," CEPR Discussion Papers 12514, C.E.P.R. Discussion Papers.

    Cited by:

    1. Mariagiovanna Baccara & Gilat Levy & Ronny Razin, 2025. "Research Waves," CESifo Working Paper Series 12248, CESifo.
    2. Alexander Frankel & Maximilian Kasy, 2022. "Which Findings Should Be Published?," American Economic Journal: Microeconomics, American Economic Association, vol. 14(1), pages 1-38, February.
    3. Timothy Perri, 2018. "Economics of evaluation (with special reference to promotion and tenure committees)," Economics of Governance, Springer, vol. 19(1), pages 1-19, February.

  15. Erik Eyster & Kristóf Madarász & Pascal Michaillat, 2017. "Pricing when Customers Care about Fairness but Misinfer Markups," NBER Working Papers 23778, National Bureau of Economic Research, Inc.

    Cited by:

    1. Youssef Benzarti & Dorian Carloni & Jarkko Harju & Tuomas Kosonen, 2017. "What Goes Up May Not Come Down: Asymmetric Incidence of Value-Added Taxes," NBER Working Papers 23849, National Bureau of Economic Research, Inc.
    2. Gabaix, Xavier, 2018. "Behavioral Inattention," CEPR Discussion Papers 13268, C.E.P.R. Discussion Papers.
    3. David Chavanne & Zak Danz & Jitu Dribssa & Rachel Powell & Matthew Sambor, 2022. "Context and the Perceived Fairness of Price Increases Coming out of COVID‐19," Social Science Quarterly, Southwestern Social Science Association, vol. 103(1), pages 55-68, January.
    4. Pooya Molavi, 2019. "Macroeconomics with Learning and Misspecification: A General Theory and Applications," 2019 Meeting Papers 1584, Society for Economic Dynamics.
    5. Michael Luca & Oren Reshef, 2020. "The Effect of Price on Firm Reputation," NBER Working Papers 27405, National Bureau of Economic Research, Inc.

  16. Michaillat, Pascal & Saez, Emmanuel, 2016. "The Optimal Use of Government Purchases for Stabilization," CEPR Discussion Papers 11577, C.E.P.R. Discussion Papers.

    Cited by:

    1. Pablo D. Fajgelbaum & Eduardo Morales & Juan Carlos Suárez Serrato & Owen M. Zidar, 2015. "State Taxes and Spatial Misallocation," NBER Working Papers 21760, National Bureau of Economic Research, Inc.
    2. Landais, Camille & Michaillat, Pascal & Saez, Emmanuel, 2018. "A macroeconomic approach to optimal unemployment insurance: theory," LSE Research Online Documents on Economics 88304, London School of Economics and Political Science, LSE Library.
    3. Xu, Kun & Xu, Wenli, 2015. "中国政府消费支出对经济波动的传导机理分析 [Study on Influential Mechanism Between Government Expenditure of Consumption and Economic Fluctuation]," MPRA Paper 70994, University Library of Munich, Germany, revised Dec 2015.
    4. Giorgio Motta & Raffaele Rossi, 2018. "Optimal Fiscal Policy with Consumption Taxation," Centre for Growth and Business Cycle Research Discussion Paper Series 239, Economics, The University of Manchester.
    5. Chugh, Sanjay K. & Lechthaler, Wolfgang & Merkl, Christian, 2016. "Optimal fiscal policy with labor selection," Kiel Working Papers 2030, Kiel Institute for the World Economy.

  17. Pascal Michaillat & Emmanuel Saez, 2015. "The Optimal Use of Government Purchases for Macroeconomic Stabilization," Discussion Papers 1515, Centre for Macroeconomics (CFM).

    Cited by:

    1. Sanjay K. Chugh & Wolfgang Lechthaler & Christian Merkl, 2018. "Optimal Fiscal Policy with Labor Selection," CESifo Working Paper Series 7120, CESifo.
    2. Pablo D. Fajgelbaum & Eduardo Morales & Juan Carlos Suárez Serrato & Owen M. Zidar, 2015. "State Taxes and Spatial Misallocation," NBER Working Papers 21760, National Bureau of Economic Research, Inc.
    3. Landais, Camille & Michaillat, Pascal & Saez, Emmanuel, 2018. "A macroeconomic approach to optimal unemployment insurance: theory," LSE Research Online Documents on Economics 88304, London School of Economics and Political Science, LSE Library.
    4. Xu, Kun & Xu, Wenli, 2015. "中国政府消费支出对经济波动的传导机理分析 [Study on Influential Mechanism Between Government Expenditure of Consumption and Economic Fluctuation]," MPRA Paper 70994, University Library of Munich, Germany, revised Dec 2015.

  18. Erik Eyster & Kristof Madarasz & Pascal Michaillat, 2015. "Preferences for Fair Prices, Cursed Inferences, and the Nonneutrality of Money," CEP Discussion Papers dp1325, Centre for Economic Performance, LSE.

    Cited by:

    1. Olivier Coibion & Yuriy Gorodnichenko & Rupal Kamdar, 2017. "The Formation of Expectations, Inflation and the Phillips Curve," NBER Working Papers 23304, National Bureau of Economic Research, Inc.
    2. Alessandro Ispano & Peter Schwardmann, 2018. "Competition over Cursed Consumers," CESifo Working Paper Series 7046, CESifo.
    3. Xavier Gabaix, 2016. "A Behavioral New Keynesian Model," NBER Working Papers 22954, National Bureau of Economic Research, Inc.
    4. Stéphane Dupraz, 2017. "A Kinked-Demand Theory of Price Rigidity," Working papers 656, Banque de France.

  19. Erik Eyster & Kristof Madarasz & Pascal Michaillat, 2014. "The Curse of Inflation," Discussion Papers 1430, Centre for Macroeconomics (CFM).

    Cited by:

    1. Pascal Michaillat & Emmanuel Saez, 2014. "An Economical Business-Cycle Model," Working Papers Series 6, Institute for New Economic Thinking.

  20. Michaillat, Pascal, 2014. "A theory of countercyclical government multiplier," LSE Research Online Documents on Economics 50247, London School of Economics and Political Science, LSE Library.

    Cited by:

    1. Michau, Jean-Baptiste, 2025. "Fiscal policy under secular stagnation: An optimal pump-priming strategy," Journal of Economic Dynamics and Control, Elsevier, vol. 175(C).
    2. Idriss Fontaine & Ismael Galvez-Iniesta & Pedro Gomes & Diego Vila-Martin, 2019. "Labour market flows : Accounting for the public sector," Working Papers hal-02334064, HAL.
    3. Luca Metelli & Kevin Pallara, 2020. "Fiscal space and the size of the fiscal multiplier," Temi di discussione (Economic working papers) 1293, Bank of Italy, Economic Research and International Relations Area.
    4. Richard McManus & F. Gulcin Ozkan & Dawid Trzeciakiewicz, 2021. "Why are Fiscal Multipliers Asymmetric? The Role of Credit Constraints," Economica, London School of Economics and Political Science, vol. 88(349), pages 32-69, January.
    5. Amélie Barbier‐Gauchard & Thierry Betti, 2021. "Spillover effects of fiscal policy in a monetary union: Why do fiscal instruments matter?," Bulletin of Economic Research, Wiley Blackwell, vol. 73(1), pages 1-33, January.
    6. Christian Glocker & Giulia Sestieri & Pascal Towbin, 2017. "Time-varying fiscal spending multipliers in the UK," Working papers 643, Banque de France.
    7. Gomes, Pedro Maia, 2017. "Heterogeneity and the Public Sector Wage Policy," IZA Discussion Papers 11091, IZA Network @ LISER.
    8. Amélie BARBIER-GAUCHARD & Thierry BETTI & Théo METZ, 2023. "Fiscal multipliers, public debt anchor and government credibility in a behavioural macroeconomic model," Working Papers of BETA 2023-14, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    9. Ramey, Valerie A, 2019. "Ten Years After the Financial Crisis: What Have We Learned from the Renaissance in Fiscal Research?," University of California at San Diego, Economics Working Paper Series qt6cd687wc, Department of Economics, UC San Diego.
    10. Klein, Mathias & Polattimur, Hamza & Winkler, Roland, 2022. "Fiscal spending multipliers over the household leverage cycle," European Economic Review, Elsevier, vol. 141(C).
    11. Andri Chassamboulli & Pedro Gomes, 2021. "Jumping the queue: nepotism and public-sector pay," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 39, pages 344-366, January.
    12. Gehrke, Britta & Weber, Enzo, 2018. "Identifying asymmetric effects of labor market reforms," European Economic Review, Elsevier, vol. 110(C), pages 18-40.
    13. Pérez, Javier J. & Rodríguez-Vives, Marta & Depalo, Domenico & Papapetrou, Evangelia & Aouriri, Marie & Campos, Maria M. & Celov, Dmitrij & Pesliakaitė, Jurga & Ramos, Roberto, 2016. "The fiscal and macroeconomic effects of government wages and employment reform," Occasional Paper Series 176, European Central Bank.
    14. Shuaizhang Feng & Naijia Guo, 2019. "Labor Market Dynamics in Urban China and the Role of the State Sector," Working Papers 2019-008, Human Capital and Economic Opportunity Working Group.
    15. BERTINELLI, Luisito & CARDI, Olivier & RESTOUT, Romain, 2020. "Relative Productivity And Search Unemployment In An Open Economy," Journal of Economic Dynamics and Control, Elsevier, vol. 117(C).
    16. Chacko George & Florian Kuhn, 2019. "Business Cycle Implications of Capacity Constraints under Demand Shocks," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 32, pages 94-121, April.
    17. Mishel Ghassibe & Francesco Zanetti, 2022. "State Dependence of Fiscal Multipliers: the Source of Fluctuations Matters," BCAM Working Papers 2204, Birkbeck Centre for Applied Macroeconomics.
    18. Yifei Lyu & Eul Noh, 2022. "Cyclical variation in US government spending multipliers," Economic Inquiry, Western Economic Association International, vol. 60(2), pages 831-846, April.
    19. Athanasios Geromichalos & Ioannis Kospentaris, 2020. "The Unintended Consequences of Meritocratic Government Hiring," Working Papers 335, University of California, Davis, Department of Economics.
    20. Shingo Watanabe, 2019. "What Do British Historical Data Tell Us About Government Spending Multipliers?," Economic Inquiry, Western Economic Association International, vol. 57(2), pages 1141-1162, April.
    21. Biolsi, Christopher, 2017. "Nonlinear effects of fiscal policy over the business cycle," Journal of Economic Dynamics and Control, Elsevier, vol. 78(C), pages 54-87.
    22. Pierpaolo Benigno & Gauti B. Eggertsson, 2023. "It’s Baaack: The Surge in Inflation in the 2020s and the Return of the Non-Linear Phillips Curve," NBER Working Papers 31197, National Bureau of Economic Research, Inc.
    23. Michaillat, Pascal & Saez, Emmanuel, 2015. "The optimal use of government purchases for macroeconomic stabilization," LSE Research Online Documents on Economics 87160, London School of Economics and Political Science, LSE Library.
    24. Thuy Lan Nguyen & Dmitriy Sergeyev & Wataru Miyamoto, 2016. "Government Spending Multipliers under the Zero Lower Bound: Evidence from Japan," 2016 Meeting Papers 666, Society for Economic Dynamics.
    25. Andri Chassamboulli & Pedro Gomes, 2018. "Meritocracy, Public-Sector Pay and Human Capital Accumulation," University of Cyprus Working Papers in Economics 08-2018, University of Cyprus Department of Economics.
    26. Yoon J. Jo & Sarah Zubairy, 2021. "State dependent government spending multipliers: Downward nominal wage rigidity and sources of business cycle fluctuations," Working Papers 20210127-001, Texas A&M University, Department of Economics.
    27. Thierry Betti & Thomas Coudert, 2015. "How can the labor market accounts for the effectiveness of fiscal policy over the business cycle?," Working Papers of BETA 2015-16, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    28. Auerbach, Alan & Gorodnichenko, Yuriy & McCrory, Peter B & Murphy, Daniel, 2022. "Fiscal multipliers in the COVID19 recession," Department of Economics, Working Paper Series qt83n8n7j1, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
    29. Buchheim, Lukas & Watzinger, Martin & Wilhelm, Matthias, 2020. "Job creation in tight and slack labor markets," Journal of Monetary Economics, Elsevier, vol. 114(C), pages 126-143.
    30. Jordan Roulleau-Pasdeloup, 2016. "The Government Spending Multiplier in a Deep Recession," Cahiers de Recherches Economiques du Département d'économie 16.22, Université de Lausanne, Faculté des HEC, Département d’économie.
    31. Marco Amendola & Marcelo C. Pereira, 2025. "Are fiscal multipliers state dependent? Insights from an agent-based model," LEM Papers Series 2025/10, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    32. Osiebuni Collins OBU & Wilfred I. UKPERE, 2022. "The Implications of the Incursion of Cryptocurrency on the Effectiveness of Fiscal Policy," Review of Applied Socio-Economic Research, Pro Global Science Association, vol. 23(1), pages 134-150, June.
    33. Rabia Rafique & Asad Nisar & Syed Sadaqat Ali Shah, 2024. "Testing the effects of fiscal policy shocks on output growth in recession and expansion: empirical evidence from developing countries," Economic Change and Restructuring, Springer, vol. 57(3), pages 1-26, June.
    34. Efrem Castelnuovo & Guay Lim, 2019. "What Do We Know About the Macroeconomic Effects of Fiscal Policy? A Brief Survey of the Literature on Fiscal Multipliers," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 52(1), pages 78-93, March.
    35. Mr. Tidiane Kinda & Andras Lengyel & Kaustubh Chahande, 2022. "Fiscal Multipliers During Pandemics," IMF Working Papers 2022/149, International Monetary Fund.
    36. Patrick Blagrave & Giang Ho & Ksenia Koloskova & Mr. Esteban Vesperoni, 2017. "Fiscal Spillovers: The Importance of Macroeconomic and Policy Conditions in Transmission," IMF Spillover Notes 2017/002, International Monetary Fund.
    37. Michaillat, Pascal, 2023. "Modeling Migration-Induced Unemployment," Santa Cruz Department of Economics, Working Paper Series qt4vq4j061, Department of Economics, UC Santa Cruz.
    38. Auray, Stéphane & Eyquem, Aurélien, 2020. "The macroeconomic effects of lockdown policies," Journal of Public Economics, Elsevier, vol. 190(C).
    39. Francesco Morelli, 2025. "Spending Multipliers and the Party in Power: Evidence from United States Political Cycles," CEIS Research Paper 617, Tor Vergata University, CEIS, revised 17 Nov 2025.
    40. Travis J. Berge & Maarten De Ridder & Damjan Pfajfar, 2020. "When is the Fiscal Multiplier High? A Comparison of Four Business Cycle Phases," Finance and Economics Discussion Series 2020-026, Board of Governors of the Federal Reserve System (U.S.).
    41. Glocker, Christian & Sestieri, Giulia & Towbin, Pascal, 2019. "Time-varying government spending multipliers in the UK," Journal of Macroeconomics, Elsevier, vol. 60(C), pages 180-197.
    42. Javier J. Perez & Ana Lamo & Enrique Moral-Benito, 2015. "Does Slack Influence Public and Private Labor Market," EcoMod2015 8792, EcoMod.
    43. Paweł Kopiec, 2022. "A Theory of The Procyclical Effectiveness of Forward Guidance," KAE Working Papers 2022-081, Warsaw School of Economics, Collegium of Economic Analysis.
    44. Andri Chassamboulli & Pedro Gomes, 2019. "Public-Sector Employment, Wages and Human Capital Accumulation," University of Cyprus Working Papers in Economics 07-2019, University of Cyprus Department of Economics.
    45. Alloza, Mario, 2016. "Is fiscal policy more effective in uncertain times or during recessions?," LSE Research Online Documents on Economics 86179, London School of Economics and Political Science, LSE Library.
    46. Steinar Holden & Victoria Sparrman, 2018. "Do Government Purchases Affect Unemployment?," Scandinavian Journal of Economics, Wiley Blackwell, vol. 120(1), pages 124-158, January.
    47. Pascal Michaillat & Emmanuel Saez, 2014. "Aggregate Demand, Idle Time, and Unemployment," Upjohn Working Papers 14-214, W.E. Upjohn Institute for Employment Research.
    48. Thierry Betti & Thomas Coudert, 2022. "How harmful are cuts in public employment and wage in times of high unemployment?," Bulletin of Economic Research, Wiley Blackwell, vol. 74(1), pages 247-277, January.
    49. Valerie A. Ramey & Sarah Zubairy, 2018. "Government Spending Multipliers in Good Times and in Bad: Evidence from US Historical Data," Journal of Political Economy, University of Chicago Press, vol. 126(2), pages 850-901.
    50. Lamo, Ana & Pérez, Javier J. & Moral-Benito, Enrique, 2016. "Does slack influence public and private labor market interactions?," Working Paper Series 1890, European Central Bank.
    51. Kim, Wongi, 2023. "Private sector debt overhang and government spending multipliers: Not all debts are alike," European Economic Review, Elsevier, vol. 154(C).
    52. Alex Grimaud, 2023. "Unemployment Risk and Discretionary Fiscal Spending," Department of Economics Working Papers wuwp335, Vienna University of Economics and Business, Department of Economics.
    53. Eric Sims & Jonathan Wolff, 2018. "The Output And Welfare Effects Of Government Spending Shocks Over The Business Cycle," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 59(3), pages 1403-1435, August.
    54. Feng, Shuaizhang & Guo, Naijia, 2021. "Labor market dynamics in urban China and the role of the state sector," Journal of Comparative Economics, Elsevier, vol. 49(4), pages 918-932.
    55. Matteo Salto, 2016. "Fiscal Policy after the Crisis – Workshop Proceedings," European Economy - Discussion Papers 035, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    56. Marco Bernardini & Gert Peersman, 2015. "Private Debt Overhang And The Government Spending Multiplier: Evidence For The United States," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 15/901, Ghent University, Faculty of Economics and Business Administration.
    57. Mr. Shafik Hebous & Tom Zimmermann, 2016. "Can Government Demand Stimulate Private Investment? Evidence from U.S. Federal Procurement," IMF Working Papers 2016/060, International Monetary Fund.
    58. Fotiou, Alexandra, 2022. "Non-linearities in fiscal policy: The role of debt," European Economic Review, Elsevier, vol. 150(C).
    59. Fabrizio Renzi, 2025. "New evidence on state-dependent fiscal multipliers," Temi di discussione (Economic working papers) 1512, Bank of Italy, Economic Research and International Relations Area.
    60. Boehm, Christoph E., 2020. "Government consumption and investment: Does the composition of purchases affect the multiplier?," Journal of Monetary Economics, Elsevier, vol. 115(C), pages 80-93.
    61. Kamalyan, Hayk, 2021. "Phase-Dependent Monetary and Fiscal Policy," MPRA Paper 110341, University Library of Munich, Germany.
    62. Zhao, Ran & He, Pinglin, 2024. "Government spending efficiency, fiscal decentralization and regional innovation capability: Evidence from China," Economic Analysis and Policy, Elsevier, vol. 84(C), pages 693-706.
    63. Mauro Sayar Ferreira & Berto Carvalho da Silva Jr, 2025. "Fiscal multiplier in Brazil: the role played by controls," Textos para Discussão Cedeplar-UFMG 684, Cedeplar, Universidade Federal de Minas Gerais.
    64. Matthieu Bussière & Laurent Ferrara & Michel Juillard & Daniele Siena, 2017. "Can Fiscal Budget-Neutral Reforms Stimulate Growth? Model-Based Results," Working papers 625, Banque de France.
    65. Andrea Tafuro, 2015. "The Effects of Fiscal Policy on Employment: an Analysis of the Aggregate Evidence," Working Papers 2015: 03, Department of Economics, University of Venice "Ca' Foscari".
    66. Enrico Baraldi & Francesco Ciabuschi & Luciano Fratocchi, 2025. "Value chain disruptions: policy responses to antibiotic shortages in global value chains," Journal of International Business Policy, Palgrave Macmillan, vol. 8(3), pages 224-250, September.
    67. Pérez Pérez Jorge & Suher Michael, 2020. "The Efficacy of Hiring Credits in Distressed Areas," Working Papers 2020-05, Banco de México.
    68. Kohlbrecher, Britta & Merkl, Christian & Nordmeier, Daniela, 2014. "Revisiting the Matching Function," IZA Discussion Papers 8515, IZA Network @ LISER.
    69. Chassamboulli, Andri & Gomes, Pedro, 2023. "Public-sector employment, wages and education decisions," Labour Economics, Elsevier, vol. 82(C).
    70. Bjoern Bruegemann, 2017. "Privately Efficient Wage Rigidity Under Diminishing Returns," 2017 Meeting Papers 978, Society for Economic Dynamics.
    71. Boehm, Christoph E. & Pandalai-Nayar, Nitya, 2020. "Convex supply curves," Working Paper Series 2460, European Central Bank.
    72. Jesper Lindé & Mathias Trabandt, 2017. "Should We Use Linearised Models to Calculate Fiscal Multipliers?," European Economy - Discussion Papers 064, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    73. Lucas Navarro & Mauricio Tejada, 2022. "Does Public Sector Employment Buffer the Minimum Wage Effects?," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 43, pages 168-196, January.
    74. Paras Sachdeva & Wasim Ahmad & N. R. Bhanumurthy, 2024. "Public expenditure multiplier across business cycle phases in an emerging economy: new empirical evidence and dimension," Empirical Economics, Springer, vol. 66(1), pages 279-299, January.
    75. Landais, Camille & Michaillat, Pascal & Saez, Emmanuel, 2018. "A macroeconomic approach to optimal unemployment insurance: applications," LSE Research Online Documents on Economics 88303, London School of Economics and Political Science, LSE Library.
    76. Coppola, Gianluigi & Destefanis, Sergio & Di Serio, Mario & Fragetta, Matteo, 2024. "Fiscal multipliers in recession and expansion. An analysis for the Italian regions," Structural Change and Economic Dynamics, Elsevier, vol. 71(C), pages 538-556.
    77. Matthew Knowles, 2023. "Capital Deaccumulation and the Large Persistent Effects of Financial Crises," ECONtribute Discussion Papers Series 218, University of Bonn and University of Cologne, Germany.
    78. Garibaldi, Pietro & Gomes, Pedro Maia & Sopraseuth, Thepthida, 2019. "Public Employment Redux," IZA Discussion Papers 12871, IZA Network @ LISER.
    79. Di Serio, Mario & Fragetta, Matteo & Gasteiger, Emanuel & Melina, Giovanni, 2023. "The Euro Area Government Spending Multiplier in Demand- and Supply-Driven Recessions?," ECON WPS - Working Papers in Economic Theory and Policy 02/2023, TU Wien, Institute of Statistics and Mathematical Methods in Economics, Economics Research Unit.
    80. Dell'Erba, Salvatore & Koloskova, Ksenia & Poplawski-Ribeiro, Marcos, 2018. "Medium-term fiscal multipliers during protracted economic contractions," Journal of Macroeconomics, Elsevier, vol. 56(C), pages 35-52.
    81. Karaki, Mohamad B. & Safieddine, Hadi, 2023. "Do defense news crowd out private investment?," Economics Letters, Elsevier, vol. 233(C).
    82. Matusche, Alexander, 2025. "The short-run employment effects of public infrastructure investment," European Economic Review, Elsevier, vol. 177(C).
    83. Gilles Dufrénot & Aurélia Jambois & Laurine Jambois & Guillaume Khayat, 2016. "Regime-Dependent Fiscal Multipliers in the United States," Open Economies Review, Springer, vol. 27(5), pages 923-944, November.
    84. Feng, Shuaizhang & Guo, Naijia, 2019. "Labor Market Dynamics in Urban China and the Role of the State Sector," IZA Discussion Papers 12170, IZA Network @ LISER.
    85. Bill Dupor & Rodrigo Guerrero, 2021. "The Aggregate And Local Economic Effects Of Government Financed Health Care," Economic Inquiry, Western Economic Association International, vol. 59(2), pages 662-670, April.
    86. Shen, Wenyi & Yang, Shu-Chun S., 2018. "Downward nominal wage rigidity and state-dependent government spending multipliers," Journal of Monetary Economics, Elsevier, vol. 98(C), pages 11-26.
    87. Ziegenbein, Alexander, 2024. "When are tax multipliers large?," Journal of Economic Dynamics and Control, Elsevier, vol. 158(C).
    88. Demirel, Ufuk Devrim, 2021. "The short-term effects of tax changes: The role of state dependence," Journal of Monetary Economics, Elsevier, vol. 117(C), pages 918-934.
    89. Albertini, Julien & Auray, Stéphane & Bouakez, Hafedh & Eyquem, Aurélien, 2021. "Taking off into the wind: Unemployment risk and state-Dependent government spending multipliers," Journal of Monetary Economics, Elsevier, vol. 117(C), pages 990-1007.
    90. Sheremirov, Viacheslav & Spirovska, Sandra, 2022. "Fiscal multipliers in advanced and developing countries: Evidence from military spending," Journal of Public Economics, Elsevier, vol. 208(C).
    91. Aursland, Thor Andreas & Frankovic, Ivan & Kanik, Birol & Saxegaard, Magnus, 2020. "State-dependent fiscal multipliers in NORA - A DSGE model for fiscal policy analysis in Norway," Economic Modelling, Elsevier, vol. 93(C), pages 321-353.

  21. Pascal Michaillat & Emmanuel Saez, 2014. "Aggregate Demand, Idle Time, and Unemployment," Discussion Papers 1419, Centre for Macroeconomics (CFM).

    Cited by:

    1. Fernández-Villaverde, Jesús & Mandelman, Federico & Zanetti, Francesco & Yu, Yang, 2021. "The ``Matthew Effect'' and Market Concentration: Search Complementarities and Monopsony Power," CEPR Discussion Papers 15788, C.E.P.R. Discussion Papers.
    2. Camille Landais & Pascal Michaillat & Emmanuel Saez, 2013. "Optimal Unemployment Insurance over the Business Cycle," Discussion Papers 1303, Centre for Macroeconomics (CFM).
    3. Jesus Fernandez-Villaverde & Francesco Zanetti & Federico Mandelman & Yang Yu, 2019. "Search Complementarities, Aggregate Fluctuations, and Fiscal Policy," Economics Series Working Papers 880, University of Oxford, Department of Economics.
    4. Kory Kroft & Kavan Kucko & Etienne Lehmann & Johannes Schmieder, 2015. "Optimal Income Taxation with Unemployment and Wage Responses: A Sufficient Statistics Approach," TEPP Working Paper 2015-10, TEPP.
    5. Ogawa, Shogo, 2019. "Effective Demand and Quantity Constrained Growth: A Simple Two-Sector Disequilibrium Approach," MPRA Paper 93336, University Library of Munich, Germany.
    6. Chipeta Chama & Meyer Daniel Francois & Muzindutsi Paul-Francois, 2017. "The Effect of Exchange Rate Movements and Economic Growth on Job Creation," Studia Universitatis Babeș-Bolyai Oeconomica, Sciendo, vol. 62(2), pages 20-41, August.
    7. Stefanadis, Christodoulos, 2023. "Oligarchy, underutilized capacity, and government policy," European Economic Review, Elsevier, vol. 160(C).
    8. Pablo Ottonello, 2015. "Capital Unemployment, Financial Shocks, and Investment Slumps," 2015 Meeting Papers 1153, Society for Economic Dynamics.
    9. Guillermo Verduzco-Bustos & Francesco Zanetti, 2026. "The Effects of Geopolitical Oil Price Shocks," CESifo Working Paper Series 12606, CESifo.
    10. Pascal Michaillat & Emmanuel Saez, 2014. "An Economical Business-Cycle Model," Working Papers Series 6, Institute for New Economic Thinking.
    11. Kaas, Leo & Kimasa, Bihemo, 2018. "Firm Dynamics with Frictional Product and Labor Markets," IZA Discussion Papers 11745, IZA Network @ LISER.
    12. Russell Wong & Guillaume Rocheteau & Zachary Bethune, 2017. "Unemployment, Aggregate Demand, and the Distribution of Liquidity," 2017 Meeting Papers 760, Society for Economic Dynamics.
    13. Silva, Mario Rafael & Urias, Marshall, 2025. "Productive demand and sectoral capacity utilization," Economic Modelling, Elsevier, vol. 153(C).
    14. Mishel Ghassibe & Francesco Zanetti, 2022. "State Dependence of Fiscal Multipliers: the Source of Fluctuations Matters," BCAM Working Papers 2204, Birkbeck Centre for Applied Macroeconomics.
    15. Kopiec, Paweł, 2022. "The government spending multiplier in the Heterogeneous Agent New Keynesian model," European Economic Review, Elsevier, vol. 145(C).
    16. Dennis Egger & Johannes Haushofer & Edward Miguel & Paul Niehaus & Michael W. Walker, 2019. "General Equilibrium Effects of Cash Transfers: Experimental Evidence from Kenya," NBER Working Papers 26600, National Bureau of Economic Research, Inc.
    17. Alan J. Auerbach & Yuriy Gorodnichenko & Daniel Murphy, 2019. "Macroeconomic Frameworks," NBER Working Papers 26365, National Bureau of Economic Research, Inc.
    18. Mei Dong & Toshiaki Shoji & Yuki Teranishi, 2021. "Product Cycles and Prices: a Search Foundation," Working Papers e161, Tokyo Center for Economic Research.
    19. Jesús Fernández-Villaverde & Yang Yu & Francesco Zanetti, 2024. "Technological synergies, heterogeneous firms, and idiosyncratic volatility," Economics Series Working Papers 1037, University of Oxford, Department of Economics.
    20. Perez Perez, Jorge, 2020. "City Minimum Wages and Spatial Equilibrium Effects," SocArXiv fpx9e, Center for Open Science.
    21. Coibion, Olivier & Gorodnichenko, Yuriy & Koustas, Dmitri, 2022. "Consumption Inequality and the Frequency of Purchases," Department of Economics, Working Paper Series qt5jm2t8tx, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
    22. Auerbach, Alan & Gorodnichenko, Yuriy & McCrory, Peter B & Murphy, Daniel, 2022. "Fiscal multipliers in the COVID19 recession," Department of Economics, Working Paper Series qt83n8n7j1, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
    23. Pascal Michaillat & Emmanuel Saez, 2024. "Beveridgean Phillips Curve," Papers 2401.12475, arXiv.org, revised Oct 2024.
    24. Gottfries, Nils & Stadin, Karolina, 2016. "The Matching Process:Search Or Mismatch?," Working Paper Series 2016:14, Uppsala University, Department of Economics.
    25. Gantert, Konstantin, 2025. "Shopping Time and Frictional Goods Markets: Implications for the New-Keynesian Model," VfS Annual Conference 2025 (Cologne): Revival of Industrial Policy 325386, Verein für Socialpolitik / German Economic Association.
    26. Alan J. Auerbach & Yuriy Gorodnichenko & Daniel Murphy, 2020. "Inequality, Fiscal Policy and COVID19 Restrictions in a Demand-Determined Economy," NBER Working Papers 27366, National Bureau of Economic Research, Inc.
    27. Luba Petersen & Guidon Fenig, 2015. "Distributing scarce jobs and output: Experimental evidence on the effects of rationing," Discussion Papers dp15-02, Department of Economics, Simon Fraser University.
    28. Gantert, Konstantin, 2022. "The Impact of Active Aggregate Demand on Utilization-Adjusted TFP," VfS Annual Conference 2022 (Basel): Big Data in Economics 264103, Verein für Socialpolitik / German Economic Association.
    29. Martin S. Eichenbaum, 2015. "Comment," NBER Macroeconomics Annual, University of Chicago Press, vol. 29(1), pages 129-145.
    30. Pascal Michaillat & Emmanuel Saez, 2024. "Has the Recession Started?," Papers 2408.05856, arXiv.org, revised Sep 2024.
    31. Paweł Kopiec, 2023. "Frictional product market, supply chains and the impact of government expenditures on private consumption," Bank i Kredyt, Narodowy Bank Polski, vol. 54(3), pages 285-308.
    32. Zhen Huo & Jose-Victor Rios-Rull, 2020. "Demand Induced Fluctuations," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 37, pages 99-117, August.
    33. Gantert, Konstantin, 2022. "The impact of active aggregate demand on utilisation-adjusted TFP," IWH Discussion Papers 9/2022, Halle Institute for Economic Research (IWH).
    34. Joel P. Flynn & George Nikolakoudis & Karthik A. Sastry, 2026. "Pricing and Production Without the Invisible Hand," Cowles Foundation Discussion Papers 2501, Cowles Foundation for Research in Economics, Yale University.
    35. Paweł Kopiec, 2022. "A Theory of The Procyclical Effectiveness of Forward Guidance," KAE Working Papers 2022-081, Warsaw School of Economics, Collegium of Economic Analysis.
    36. Hashimoto, Ken-ichi & Ono, Yoshiyasu & Schlegl, Matthias, 2023. "Structural unemployment, underemployment, and secular stagnation," Journal of Economic Theory, Elsevier, vol. 209(C).
    37. Sergio Lago Alves & Hashmat Khan, 2024. "Are New Keynesian Models Useful When Trend Inflation is Not Low?," Working Papers 24-08, Chair in macroeconomics and forecasting, University of Quebec in Montreal's School of Management, revised Aug 2024.
    38. Pascal Michaillat & Emmanuel Saez, 2015. "The Optimal Use of Government Purchases for Macroeconomic Stabilization," Discussion Papers 1515, Centre for Macroeconomics (CFM).
    39. Farmer, Roger, 2019. "The importance of beliefs in shaping macroeconomic outcomes," CEPR Discussion Papers 14185, C.E.P.R. Discussion Papers.
    40. Piotr Denderski & Florian Sniekers, 2024. "Declining Search Frictions, Unemployment and Self-Employment," The Economic Journal, Royal Economic Society, vol. 134(659), pages 1100-1145.
    41. Murakami, Hiroki, 2018. "Existence and uniqueness of growth cycles in post Keynesian systems," Economic Modelling, Elsevier, vol. 75(C), pages 293-304.
    42. Combet, Emmanuel & Le Treut, Gaëlle & Méjean, Aurélie & Teixeira, Antoine, 2025. "The equity and efficiency trade-off of carbon tax revenue recycling: A re-examination," Energy Economics, Elsevier, vol. 148(C).
    43. Schlenker, Oliver, 2024. "The deadly consequences of labor scarcity: Evidence from hospitals," Working Papers 42, University of Konstanz, Cluster of Excellence "The Politics of Inequality. Perceptions, Participation and Policies".
    44. Federico Mandelman & Yang Yu & Francesco Zanetti, 2026. "Immigration, Labor Shortages, and Labor Market Dynamics," CESifo Working Paper Series 12546, CESifo.
    45. Hashmat Khan & Sergio Lago Alves, 2025. "Are New Keynesian Models Useful When Trend Inflation is Not Very Low?," Carleton Economic Papers 25-01, Carleton University, Department of Economics.
    46. Denderski, Piotr & Sniekers, Florian, 2021. "Declining Search Frictions and Type-of-Employment Choice," Discussion Paper 2021-010, Tilburg University, Center for Economic Research.
    47. Xiwen Bai & Jesús Fernández-Villaverde & Yiliang Li & Francesco Zanetti, 2024. "The Causal Effects of Global Supply Chain Disruptions on Macroeconomic Outcomes: Evidence and Theory," CESifo Working Paper Series 10930, CESifo.
    48. Krolikowski, Pawel M. & McCallum, Andrew H., 2021. "Goods-market frictions and international trade," Journal of International Economics, Elsevier, vol. 129(C).
    49. Robertas Zubrickas, 2020. "Contingent wage subsidy," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 22(4), pages 1105-1119, August.
    50. Shogo Ogawa, 2022. "Neoclassical stability and Keynesian instability: A two‐sector disequilibrium approach," Metroeconomica, Wiley Blackwell, vol. 73(2), pages 481-513, May.
    51. Epstein, Brendan & Nunn, Ryan & Orak, Musa & Patel, Elena, 2023. "Taxation, social welfare, and labor market frictions," European Economic Review, Elsevier, vol. 151(C).
    52. Alan Auerbach & Yuriy Gorodnichenko & Daniel Murphy, 2020. "Local Fiscal Multipliers and Fiscal Spillovers in the USA," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 68(1), pages 195-229, March.
    53. Pascal Michaillat, 2023. "Modeling Migration-Induced Unemployment," Papers 2303.13319, arXiv.org, revised Dec 2024.
    54. Balleer, Almut & Noeller, Marvin, 2023. "Monetary policy in the presence of supply constraints: Evidence from German firm-level data," Ruhr Economic Papers 1060, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    55. Ogawa, Shogo, 2021. "One Suggestion for Microfoundation of Non-Walrasian Disequilibrium Macroeconomics: Matching Theory with Dual Decision," MPRA Paper 106636, University Library of Munich, Germany.
    56. Mountford, Andrew & Wadsworth, Jonathan, 2023. "‘Good jobs’, training and skilled immigration," LSE Research Online Documents on Economics 118784, London School of Economics and Political Science, LSE Library.
    57. Corsetti, Giancarlo & Brendon, Charles, 2016. "COEURE Survey: Fiscal and Monetary Policies after the Crises," CEPR Discussion Papers 11088, C.E.P.R. Discussion Papers.
    58. Pascal Michaillat & Emmanuel Saez, 2015. "The Optimal Use of Government Purchases for Stabilization," NBER Working Papers 21322, National Bureau of Economic Research, Inc.
    59. Ogawa, Shogo, 2022. "Capital and inventory investments under quantity constraints: A microfounded Metzlerian model," MPRA Paper 111906, University Library of Munich, Germany.
    60. Nopphol Witvorapong & Chak Hung Jack Cheng, 2024. "Health care policy uncertainty and state-level employment," Empirical Economics, Springer, vol. 66(6), pages 2501-2532, June.
    61. Garibaldi, Pietro & Gomes, Pedro Maia & Sopraseuth, Thepthida, 2019. "Public Employment Redux," IZA Discussion Papers 12871, IZA Network @ LISER.
    62. Stadin, Karolina, 2015. "Firms’ employment dynamics and the state of the labor market," Working Paper Series 2015:20, IFAU - Institute for Evaluation of Labour Market and Education Policy.
    63. Guidon Fenig & Luba Petersen, 2017. "Distributing scarce jobs and output: experimental evidence on the dynamic effects of rationing," Experimental Economics, Springer;Economic Science Association, vol. 20(3), pages 707-735, September.
    64. Murphy, Daniel, 2017. "Excess capacity in a fixed-cost economy," European Economic Review, Elsevier, vol. 91(C), pages 245-260.
    65. Paweł Borys & Paweł Doligalski & Paweł Kopiec, 2018. "Labor market institutions in a shopping economy," NBP Working Papers 275, Narodowy Bank Polski.
    66. Yıldırım Mustafa Ozan & Yıldırım Ahmet Eren, 2017. "The Influence of Consumption and Investment on Unemployment in Turkey: A Svar Approach," Ekonomika (Economics), Sciendo, vol. 96(1), pages 74-92, January.
    67. Stefan Eriksson & Karolina Stadin, 2017. "What are the determinants of hiring? The importance of product market demand and search frictions," Applied Economics, Taylor & Francis Journals, vol. 49(50), pages 5144-5165, October.
    68. Daniel Murphy & Eric Young, 2020. "Government Debt Limits and Stabilization Policy," Working Papers 20-23, Federal Reserve Bank of Cleveland.
    69. Obinna Franklin Ezeibekwe, 2025. "Business registration from inception and employment indicators using causal machine learning," Empirical Economics, Springer, vol. 68(6), pages 2933-2975, June.
    70. Kopiec, Pawel, 2019. "Household Heterogeneity and the Value of Government Spending Multiplier: an Analytical Characterization," MPRA Paper 93499, University Library of Munich, Germany.
    71. Focacci, Antonio, 2017. "Controversial curves of the economy: An up-to-date investigation of long waves," Technological Forecasting and Social Change, Elsevier, vol. 116(C), pages 271-285.
    72. Ogawa, Shogo, 2024. "Perceived and expected quantity constraints in inventory dynamics," MPRA Paper 120629, University Library of Munich, Germany.
    73. Birchenall, Javier A., 2024. "A competitive theory of mismatch," Journal of Economic Dynamics and Control, Elsevier, vol. 168(C).
    74. Pascal Michaillat, 2025. "Recession Detection Using Classifiers on the Anticipation-Precision Frontier," Papers 2506.09664, arXiv.org, revised Dec 2025.
    75. Ogawa, Shogo, 2022. "Survey of non-Walrasian disequilibrium economic theory," MPRA Paper 115011, University Library of Munich, Germany.

  22. Emmanuel Saez & Pascal Michaillat, 2013. "A Theory of Aggregate Supply and Aggregate Demand as Functions of Market Tightness with Prices as Parameters," 2013 Meeting Papers 1216, Society for Economic Dynamics.

    Cited by:

    1. Den Haan, Wouter, 2013. "Inventories and the Role of Goods-Market Frictions for Business Cycles," CEPR Discussion Papers 9628, C.E.P.R. Discussion Papers.
    2. Mirko Abbritti & Tommaso Trani, 2014. "Search and Bargaining in the Product Market and Price Rigidities," Faculty Working Papers 09/14, School of Economics and Business Administration, University of Navarra.
    3. Michaillat, Pascal, 2012. "A theory of countercyclical government-consumption multiplier," LSE Research Online Documents on Economics 54277, London School of Economics and Political Science, LSE Library.
    4. Wouter Den Haan, 2014. "Inventories and the Role of Goods-Market Frictions for Business Cycles," Discussion Papers 1402, Centre for Macroeconomics (CFM).
    5. Ogawa, Shogo, 2021. "One Suggestion for Microfoundation of Non-Walrasian Disequilibrium Macroeconomics: Matching Theory with Dual Decision," MPRA Paper 106636, University Library of Munich, Germany.
    6. Gillman, Max & Benk, Szilard & Csabafi, Tamas, 2023. "Supply-side economics with AS-AD in Ramsey dynamic general equilibrium," Economic Analysis and Policy, Elsevier, vol. 80(C), pages 505-531.

  23. Pascal Michaillat & Emmanuel Saez, 2013. "A Model of Aggregate Demand and Unemployment," CEP Discussion Papers dp1235, Centre for Economic Performance, LSE.

    Cited by:

    1. Camille Landais & Pascal Michaillat & Emmanuel Saez, 2013. "Optimal Unemployment Insurance over the Business Cycle," Discussion Papers 1303, Centre for Macroeconomics (CFM).
    2. Zhen Huo & Jose-Victor Rios-Rull, 2015. "Tightening Financial Frictions on Households, Recessions, and Price Reallocations," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 18(1), pages 118-139, January.
    3. Huo, Zhen, 2016. "Financial Frictions, Asset Prices, and the Great Recession," CEPR Discussion Papers 11544, C.E.P.R. Discussion Papers.
    4. Tristan Potter & Sanjay Chugh & Ryan Chahrour, 2017. "Searching for Wages in an Estimated Labor Matching Model," 2017 Meeting Papers 542, Society for Economic Dynamics.
    5. Pascal Michaillat & Emmanuel Saez, 2014. "An Economical Business-Cycle Model," NBER Working Papers 19777, National Bureau of Economic Research, Inc.
    6. Charpe, Matthieu & Kühn, Stefan, 2015. "Demand and supply effects of bargaining power shocks," Economic Modelling, Elsevier, vol. 51(C), pages 21-32.

  24. Michaillat, Pascal, 2012. "A Theory of Countercyclical Government-Consumption Multiplier," CEPR Discussion Papers 9052, C.E.P.R. Discussion Papers.

    Cited by:

    1. Jordan Roulleau-Pasdeloup, 2016. "The Government Spending Multiplier in a Deep Recession," Cahiers de Recherches Economiques du Département d'économie 16.22, Université de Lausanne, Faculté des HEC, Département d’économie.
    2. Jordan Roulleau-Pasdeloup, 2014. "Why is the Government Spending Multiplier Larger at the Zero Lower Bound ? Not (Only) Because of the Zero Lower Bound," Working Papers 2014-02, Center for Research in Economics and Statistics.
    3. Annalisa Cristini & Piero Ferri & Anna Maria Variato, 2015. "Search Theories and Aggregate Demand," Review of Economics & Finance, Better Advances Press, Canada, vol. 5, pages 55-65, August.
    4. Shafik Hebous & Tom Zimmermann, 2013. "Cross-Border Effects of Fiscal Consolidations: Estimates Based on Narrative Records," CESifo Working Paper Series 4311, CESifo.
    5. Jordan Roulleau-Pasdeloup, 2013. "The Productive Government Spending Multiplier, In and Out of The Zero Lower Bound," Working Papers 2013-02, Center for Research in Economics and Statistics.
    6. Ricardo Silva & Vitor Manuel Carvalho & Ana Paula Ribeiro, 2013. "How large are fiscal multipliers? A panel-data VAR approach for the Euro area," FEP Working Papers 500, Universidade do Porto, Faculdade de Economia do Porto.

  25. Pascal Michaillat, 2012. "Fiscal Multipliers over the Business Cycle," CEP Discussion Papers dp1115, Centre for Economic Performance, LSE.

    Cited by:

    1. Pascal Michaillat, 2012. "Do Matching Frictions Explain Unemployment? Not in Bad Times," American Economic Review, American Economic Association, vol. 102(4), pages 1721-1750, June.
    2. Christophe Blot & Marion Cochard & Jérôme Creel & Bruno Ducoudré & Danielle Schweisguth & Xavier Timbeau, 2014. "Fiscal Consolidation, Public Debt and Output Dynamics in the Euro Area: lessons from a simple model with time-varying fiscal multipliers," Revue d'économie politique, Dalloz, vol. 124(6), pages 953-989.
    3. Andrea Tafuro, 2015. "The Effects of Fiscal Policy on Employment: an Analysis of the Aggregate Evidence," Working Papers 2015: 03, Department of Economics, University of Venice "Ca' Foscari".
    4. Felix Reichling & Charles Whalen, 2015. "The Fiscal Multiplier and Economic Policy Analysis in the United States: Working Paper 2015-02," Working Papers 49925, Congressional Budget Office.
    5. Eduardo Garzón Espinosa & Bibiana Medialdea García & Esteban Cruz Hidalgo, 2021. "Fiscal Policy Approaches: An Inquiring Look From The Modern Monetary Theory," Journal of Economic Issues, Taylor & Francis Journals, vol. 55(4), pages 999-1022, October.
    6. Christophe Blot & Marion Cochard & Jérôme Creel & Bruno Ducoudré & Danielle Schweisguth & Xavier Timbeau, 2014. "Fiscal consolidation in times of crisis: is the sooner really the better?," Revue de l'OFCE, Presses de Sciences-Po, vol. 0(1), pages 159-192.
    7. Charles J. Whalen & Felix Reichling, 2015. "The Fiscal Multiplier And Economic Policy Analysis In The United States," Contemporary Economic Policy, Western Economic Association International, vol. 33(4), pages 735-746, October.
    8. W Qazizada & Engelbert Stockhammer, 2014. "Government spending multipliers in contraction and expansion," Economics Discussion Papers 2014-2, School of Economics, Kingston University London.
    9. Felix Reichling & Charles Whalen, 2012. "Assessing the Short-Term Effects on Output of Changes in Federal Fiscal Policies: Working Paper 2012-08," Working Papers 43278, Congressional Budget Office.

  26. Camille Landais & Pascal Michaillat & Emmanuel Saez, 2011. "Optimal Unemployment Insurance Over the Business Cycle," CEP Discussion Papers dp1078, Centre for Economic Performance, LSE.

    Cited by:

    1. Juan Carlos Suárez Serrato & Owen Zidar, 2014. "Who Benefits from State Corporate Tax Cuts? A Local Labor Markets Approach with Heterogeneous Firms," NBER Working Papers 20289, National Bureau of Economic Research, Inc.
    2. Henry S. Farber & Robert G. Valletta, 2013. "Do Extended Unemployment Benefits Lengthen Unemployment Spells? Evidence from Recent Cycles in the U.S. Labor Market," Working Papers 1450, Princeton University, Department of Economics, Industrial Relations Section..
    3. Rothstein, Jesse & Valletta, Robert G., 2014. "Scraping By: Income and Program Participation After the Loss of Extended Unemployment Benefits," IZA Discussion Papers 8022, IZA Network @ LISER.
    4. Emmanuel Saez & Pascal Michaillat, 2013. "A Theory of Aggregate Supply and Aggregate Demand as Functions of Market Tightness with Prices as Parameters," 2013 Meeting Papers 1216, Society for Economic Dynamics.
    5. Lukas Inderbitzin & Stefan Staubli & Josef Zweimüller, 2013. "Extended unemployment benefits and early retirement: program complementarity and program substitution," ECON - Working Papers 119, Department of Economics - University of Zurich.
    6. Lawrence Christiano & Mathias Trabandt & Karl Walentin, 2021. "Involuntary Unemployment and the Business Cycle," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 39, pages 26-54, January.
    7. Kurt Mitman & Stanislav Rabinovich, 2011. "Pro-cyclical Unemployment Benefits? Optimal Policy in an Equilibrium Business Cycle Model," PIER Working Paper Archive 11-023, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
    8. Euiyoung Jung, 2021. "On the design of labor market programs as stabilization policies," PSE Working Papers halshs-03243698, HAL.
    9. Valletta, Robert G., 2014. "Recent Extensions of U.S. Unemployment Benefits: Search Responses in Alternative Labor Market States," IZA Discussion Papers 8247, IZA Network @ LISER.
    10. Kory Kroft & Kavan Kucko & Etienne Lehmann & Johannes Schmieder, 2015. "Optimal Income Taxation with Unemployment and Wage Responses: A Sufficient Statistics Approach," TEPP Working Paper 2015-10, TEPP.
    11. Krebs, Tom & Scheffel, Martin, 2014. "Labor Market Reform and the Cost of Business Cycles," VfS Annual Conference 2014 (Hamburg): Evidence-based Economic Policy 100427, Verein für Socialpolitik / German Economic Association.
    12. Jeremy Schwartz, 2019. "The Job Search Intensity Supply Curve: How Labor Market Conditions Affect Job Search Effort," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 45(2), pages 269-300, April.
    13. Lommerud, Kjell Erik & Vagstad, Steinar & Straume, Odd Rune, 2016. "Employment protection and unemployment benefits: On technology adoption and job creation in a matching model," CEPR Discussion Papers 11192, C.E.P.R. Discussion Papers.
    14. Pascal Michaillat, 2012. "Do Matching Frictions Explain Unemployment? Not in Bad Times," American Economic Review, American Economic Association, vol. 102(4), pages 1721-1750, June.
    15. Bhattacharyya, Chandril & Gupta, Manash Ranjan, 2020. "Union, Efficiency of Labour and Endogenous Growth," Hitotsubashi Journal of Economics, Hitotsubashi University, vol. 61(2), pages 170-202, December.
    16. Kuka, Elira, 2018. "Quantifying the Benefits of Social Insurance: Unemployment Insurance and Health," IZA Discussion Papers 11629, IZA Network @ LISER.
    17. Ricardo Reis & Alisdair McKay, 2015. "Optimal Automatic Stabilizers," 2015 Meeting Papers 608, Society for Economic Dynamics.
    18. East, Chloe N. & Kuka, Elira, 2015. "Reexamining the consumption smoothing benefits of Unemployment Insurance," Journal of Public Economics, Elsevier, vol. 132(C), pages 32-50.
    19. Casey B. Mulligan, 2011. "The Expanding Social Safety Net," NBER Working Papers 17654, National Bureau of Economic Research, Inc.
    20. Pascal Michaillat & Emmanuel Saez, 2014. "Aggregate Demand, Idle Time, and Unemployment," Discussion Papers 1419, Centre for Macroeconomics (CFM).
    21. Rafael Lalive & Camille Landais & Josef Zweimüller, 2013. "Market Externalities of Large Unemployment Insurance Extension Programs," NRN working papers 2013-12, The Austrian Center for Labor Economics and the Analysis of the Welfare State, Johannes Kepler University Linz, Austria.
    22. Pascal Michaillat & Emmanuel Saez, 2013. "A Model of Aggregate Demand and Unemployment," CEP Discussion Papers dp1235, Centre for Economic Performance, LSE.
    23. Noah Williams & Rui Li, 2014. "Optimal Unemployment Insurance and Cyclical Fluctuations," 2014 Meeting Papers 804, Society for Economic Dynamics.
    24. Arash Nekoei & Andrea Weber, 2014. "Does Extending Unemployment Benefits Improve Job Quality?," NRN working papers 2014-04, The Austrian Center for Labor Economics and the Analysis of the Welfare State, Johannes Kepler University Linz, Austria.
    25. Taskin, Temel, 2011. "Unemployment insurance and home production," MPRA Paper 34878, University Library of Munich, Germany.
    26. Marius Clemens & Guillaume Claveres, 2017. "Unemployment Insurance Union," 2017 Meeting Papers 1340, Society for Economic Dynamics.
    27. Mr. Tom Krebs & Mr. Martin Scheffel, 2013. "Macroeconomic Evaluation of Labor Market Reform in Germany," IMF Working Papers 2013/042, International Monetary Fund.
    28. Andrew C. Johnston & Alexandre Mas, 2016. "Potential Unemployment Insurance Duration and Labor Supply: The Individual and Market-Level Response to a Benefit Cut," NBER Working Papers 22411, National Bureau of Economic Research, Inc.
    29. Martin Gonzalez-Rozada & Hernan Ruffo, 2014. "The Effects of Unemployment Insurance Under High Informality: Evidence from Argentina," Department of Economics Working Papers wp201403, Universidad Torcuato Di Tella.
    30. Robin Boadway, 2012. "Recent Advances in Optimal Income Taxation," Hacienda Pública Española / Review of Public Economics, IEF, vol. 200(1), pages 15-39, March.
    31. Martin Gonzalez-Rozada & Hernan Ruffo, 2014. "The Effects of Unemployment Insurance Under High Informality: Evidence from Argentina," Department of Economics Working Papers 2014_3, Universidad Torcuato Di Tella.
    32. Torben M. Andersen, 2014. "Tuning unemployment insurance to the business cycle," World of Labour, LISER, pages 1-54, May.
    33. Semih Tumen, 2016. "Informal versus formal search: Which yields better pay?," International Journal of Economic Theory, The International Society for Economic Theory, vol. 12(3), pages 257-277, September.
    34. Rothstein, Jesse, 2011. "Unemployment Insurance and Job Search in the Great Recession," Institute for Research on Labor and Employment, Working Paper Series qt5611t356, Institute of Industrial Relations, UC Berkeley.
    35. Demirgüç-Kunt,Asli & Lokshin,Michael M. & Torre,Ivan, 2022. "Protect Incomes or Protect Jobs ? The Role of Social Policies in Post-Pandemic Recovery," Policy Research Working Paper Series 10166, The World Bank.
    36. Andreas I. Mueller & Jesse Rothstein & Till M. von Wachter, 2016. "Unemployment Insurance and Disability Insurance in the Great Recession," Journal of Labor Economics, University of Chicago Press, vol. 34(S1), pages 445-475.
    37. Gerritsen, Aart, 2016. "Optimal taxation when people do not maximize well-being," Journal of Public Economics, Elsevier, vol. 144(C), pages 122-139.
    38. Ek Spector, Susanne, 2012. "Unemployment Benefits or Taxes: How Should Policy Makers Redistribute Income over the Business Cycle?," IZA Discussion Papers 6308, IZA Network @ LISER.
    39. Williamson, Stephen D. & Wang, Cheng, 1999. "Moral Hazard, Optimal Unemployment Insurance, and Experience Rating," Working Papers 99-03, University of Iowa, Department of Economics.
    40. Pollak, Andreas, 2013. "Employment Insurance and the Business Cycle," MPRA Paper 49358, University Library of Munich, Germany.
    41. Yolanda Rebollo-Sanz & J. García-Pérez, 2015. "Are unemployment benefits harmful to the stability of working careers? The case of Spain," SERIEs: Journal of the Spanish Economic Association, Springer;Spanish Economic Association, vol. 6(1), pages 1-41, March.
    42. van Ours, Jan C. & Tatsiramos, Konstantinos, 2012. "Labor Market Effects of Unemployment Insurance Design," CEPR Discussion Papers 9196, C.E.P.R. Discussion Papers.
    43. Aart Gerritsen, 2016. "Equity and Efficiency in Rationed Labor Markets," Working Papers tax-mpg-rps-2016-04, Max Planck Institute for Tax Law and Public Finance.
    44. Bruno Crépon & Esther Duflo & Marc Gurgand & Roland Rathelot & Philippe Zamora, 2012. "Do Labor Market Policies have Displacement Effects? Evidence from a Clustered Randomized Experiment," Working Papers 2012-28, Center for Research in Economics and Statistics.
    45. Landais, Camille & Nilsson, Peter & Spinnewijn, Johannes & Kolsrud, Jonas, 2015. "The Optimal Timing of UI Benefits: Theory and Evidence from Sweden," CEPR Discussion Papers 10701, C.E.P.R. Discussion Papers.
    46. Acedański, Jan, 2016. "Youth unemployment and welfare gains from eliminating business cycles — The case of Poland," Economic Modelling, Elsevier, vol. 57(C), pages 248-262.
    47. Mitman, Kurt & Rabinovich, Stanislav, 2015. "Optimal unemployment insurance in an equilibrium business-cycle model," Journal of Monetary Economics, Elsevier, vol. 71(C), pages 99-118.
    48. Moyen, Stéphane & Stähler, Nikolai, 2014. "Unemployment Insurance And The Business Cycle: Should Benefit Entitlement Duration React To The Cycle?," Macroeconomic Dynamics, Cambridge University Press, vol. 18(3), pages 497-525, April.
    49. Florian Scheuer, 2012. "Optimal Asset Taxes in Financial Markets with Aggregate Uncertainty," NBER Working Papers 17817, National Bureau of Economic Research, Inc.
    50. Kory Kroft & Matthew J. Notowidigdo, 2011. "Should Unemployment Insurance Vary With the Unemployment Rate? Theory and Evidence," NBER Working Papers 17173, National Bureau of Economic Research, Inc.
    51. Immervoll, Herwig, 2012. "Reforming the Benefit System to 'Make Work Pay': Options and Priorities in a Weak Labour Market," IZA Policy Papers 50, Institute of Labor Economics (IZA).
    52. Philip Jung & Keith Kuester, 2011. "Optimal labor-market policy in recessions," Working Papers 11-48, Federal Reserve Bank of Philadelphia.
    53. Romain Duval & Davide Furceri, 2018. "The Effects of Labor and Product Market Reforms: The Role of Macroeconomic Conditions and Policies," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 66(1), pages 31-69, March.
    54. Casey B. Mulligan, 2012. "Do Welfare Policies Matter for Labor Market Aggregates? Quantifying Safety Net Work Incentives since 2007," NBER Working Papers 18088, National Bureau of Economic Research, Inc.
    55. Fuhito Kojima & Parag Pathak & Alvin Roth, 2013. "Matching with Couples: Stability and Incentives in Large Markets," Discussion Papers 12-018, Stanford Institute for Economic Policy Research.
    56. Michaillat, Pascal, 2011. "Fiscal Multipliers Over the Business Cycle," CEPR Discussion Papers 8610, C.E.P.R. Discussion Papers.
    57. Kohlbrecher, Britta, 2016. "Optimal Monetary Policy under Rigid Wages and Decreasing Returns," VfS Annual Conference 2016 (Augsburg): Demographic Change 145867, Verein für Socialpolitik / German Economic Association.
    58. Cacciatore, Matteo & Duval, Romain & Fiori, Giuseppe & Ghironi, Fabio, 2016. "Market reforms in the time of imbalance," Journal of Economic Dynamics and Control, Elsevier, vol. 72(C), pages 69-93.
    59. Michaillat, Pascal, 2012. "A Theory of Countercyclical Government-Consumption Multiplier," CEPR Discussion Papers 9052, C.E.P.R. Discussion Papers.
    60. François Gerard & Gustavo Gonzaga, 2016. "Informal Labor and the Efficiency Cost of Social Programs: Evidence from the Brazilian Unemployment Insurance Program," NBER Working Papers 22608, National Bureau of Economic Research, Inc.
    61. Bjoern Bruegemann, 2017. "Privately Efficient Wage Rigidity Under Diminishing Returns," 2017 Meeting Papers 978, Society for Economic Dynamics.
    62. Landais, Camille, 2012. "Assessing the welfare effects of unemployment benefits using the regression kink design," LSE Research Online Documents on Economics 58025, London School of Economics and Political Science, LSE Library.
    63. Euiyoung Jung, 2021. "On the design of labor market programs as stabilization policies," Working Papers halshs-03243698, HAL.
    64. Raj Chetty & Amy Finkelstein, 2012. "Social Insurance: Connecting Theory to Data," NBER Working Papers 18433, National Bureau of Economic Research, Inc.
    65. Scott Baker & Andrey Fradkin, 2011. "What Drives Job Search? Evidence from Google Search Data," Discussion Papers 10-020, Stanford Institute for Economic Policy Research.
    66. Kavan Kucko & Johannes Schmieder & Etienne Lehmann & Kory Kroft, 2015. "Optimal Income Taxation under Unemployment: A Sufficient Statistics Approach," 2015 Meeting Papers 680, Society for Economic Dynamics.
    67. Nakajima, Makoto, 2012. "A quantitative analysis of unemployment benefit extensions," Journal of Monetary Economics, Elsevier, vol. 59(7), pages 686-702.
    68. Walter Nicholson & Karen Needels & Heinrich Hock, 2014. "Unemployment Compensation During the Great Recession: Theory and Evidence," National Tax Journal, National Tax Association;National Tax Journal, vol. 67(1), pages 187-218, March.
    69. Walter Nicholson & Karen Needels, "undated". "The EUC08 Program in Theoretical and Historical Perspective," Mathematica Policy Research Reports 9046cb11c3aa44c8a036a6e38, Mathematica Policy Research.
    70. Merkl, Christian & van Rens, Thijs, 2012. "Selective hiring and welfare analysis in labor market models," Kiel Working Papers 1752, Kiel Institute for the World Economy.
    71. Machikita, Tomohiro & Kohara, Miki & Sasaki, Masaru, 2013. "The Effect of Extended Unemployment Benefit on the Job Finding Hazards: A Quasi-Experiment in Japan," IZA Discussion Papers 7559, IZA Network @ LISER.
    72. Christina Patterson & Aysegul Sahin & Toshihiko Mukoyama, 2013. "Job Search Behavior over the Business Cycle," 2013 Meeting Papers 988, Society for Economic Dynamics.
    73. Johannes F. Schmieder & Till M. von Wachter & Stefan Bender, 2012. "The Effects of Extended Unemployment Insurance over the Business Cycle: Evidence from Regression Discontinuity Estimates Over Twenty Years," NBER Working Papers 17813, National Bureau of Economic Research, Inc.
    74. Gonzalez-Rozada, Martin & Ruffo, Hernán, 2016. "Optimal unemployment benefits in the presence of informal labor markets," Labour Economics, Elsevier, vol. 41(C), pages 204-227.
    75. Thomas Piketty & Emmanuel Saez, 2012. "Optimal Labor Income Taxation," NBER Working Papers 18521, National Bureau of Economic Research, Inc.
    76. Kolsrud, Jonas & Landais, Camille & Nilsson, Peter & Spinnewijn, Johannes, 2015. "The Optimal Timing of Unemployment Benefits: Theory and Evidence from Sweden," IZA Discussion Papers 9185, IZA Network @ LISER.
    77. Mark Strøm Kristoffersen, 2012. "Business Cycle Dependent Unemployment Benefits with Wealth Heterogeneity and Precautionary Savings," Economics Working Papers 2012-19, Department of Economics and Business Economics, Aarhus University.
    78. Aart Gerritsen, 2015. "Optimal Taxation when People Do Not Maximize Well-Being," Working Papers tax-mpg-rps-2015-07, Max Planck Institute for Tax Law and Public Finance.
    79. Nathaniel Hendren, 2017. "Knowledge of Future Job Loss and Implications for Unemployment Insurance," American Economic Review, American Economic Association, vol. 107(7), pages 1778-1823, July.
    80. Tito Boeri & Jan van Ours, 2013. "The Economics of Imperfect Labor Markets: Second Edition," Economics Books, Princeton University Press, edition 1, number 10142, December.
    81. Albertini, Julien & Poirier, Arthur, 2014. "Unemployment benefits extensions at the zero lower bound on nominal interest rate," SFB 649 Discussion Papers 2014-019, Humboldt University Berlin, Collaborative Research Center 649: Economic Risk.
    82. Raquel Carrasco & J. Ignacio García-Pérez, 2015. "Employment Dynamics Of Immigrants Versus Natives: Evidence From The Boom-Bust Period In Spain, 2000–2011," Economic Inquiry, Western Economic Association International, vol. 53(2), pages 1038-1060, April.
    83. François Gerard & Gustavo Gonzaga, 2013. "Informal Labor and the Cost of Social Programs: Evidence from 15 Years of Unemployment Insurance in Brazil," Textos para discussão 608, Department of Economics PUC-Rio (Brazil).
    84. Lee, David & Saez, Emmanuel, 2012. "Optimal minimum wage policy in competitive labor markets," Journal of Public Economics, Elsevier, vol. 96(9-10), pages 739-749.

  27. Pascal Michaillat, 2010. "Do Matching Frictions Explain Unemployment? Not in Bad Times," CEP Discussion Papers dp1024, Centre for Economic Performance, LSE.

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    1. Isoré, Marlène, 2016. "International propagation of financial shocks in a search and matching environment," Bank of Finland Research Discussion Papers 28/2016, Bank of Finland.
    2. Ioana Marinescu & Daphne Skandalis & Daniel Zhao, 2021. "The Impact of the Federal Pandemic Unemployment Compensation on Job Search and Vacancy Creation," NBER Working Papers 28567, National Bureau of Economic Research, Inc.
    3. Yusuf Mercan & Benjamin Schoefer & Petr Sedláček, 2020. "A Congestion Theory of Unemployment Fluctuations," CESifo Working Paper Series 8731, CESifo.
    4. Emmanuel Saez & Pascal Michaillat, 2013. "A Theory of Aggregate Supply and Aggregate Demand as Functions of Market Tightness with Prices as Parameters," 2013 Meeting Papers 1216, Society for Economic Dynamics.
    5. Miguel Casares & Antonio Moreno & Jesús Vázquez, 2012. "An Estimated New-Keynesian Model with Unemployment as Excess Supply of Labor," Faculty Working Papers 01/12, School of Economics and Business Administration, University of Navarra.
    6. Zweimüller, Josef, 2018. "Unemployment insurance and the labor market," Labour Economics, Elsevier, vol. 53(C), pages 1-14.
    7. Cynthia L. Doniger, 2022. "These Caps Spilleth Over: Equilibrium Effects of Unemployment Insurance," Finance and Economics Discussion Series 2022-074, Board of Governors of the Federal Reserve System (U.S.).
    8. Saez, Emmanuel & Landais, Camille & Michaillat, Pascal, 2010. "Optimal Unemployment Insurance over the Business Cycle," CEPR Discussion Papers 8132, C.E.P.R. Discussion Papers.
    9. José Ramón García & Valeri Sorolla, 2017. "Frictional and Non-Frictional Unemployment in a Labor Market with Matching Frictions," Manchester School, University of Manchester, vol. 85(4), pages 450-465, July.
    10. José Ramón García Martínez & Valeri Sorolla, 2013. "Frictional and Non Frictional Unemployment in Models with Matching Frictions," Working Papers. Serie AD 2013-02, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
    11. Kory Kroft & Kavan Kucko & Etienne Lehmann & Johannes Schmieder, 2015. "Optimal Income Taxation with Unemployment and Wage Responses: A Sufficient Statistics Approach," TEPP Working Paper 2015-10, TEPP.
    12. Pascal Michaillat, 2012. "Do Matching Frictions Explain Unemployment? Not in Bad Times," American Economic Review, American Economic Association, vol. 102(4), pages 1721-1750, June.
    13. Davoine, Thomas, 2015. "A theoretical rationale for flexicurity policies based on education," Economics Series 311, Institute for Advanced Studies.
    14. Roulleau-Pasdeloup, Jordan, 2023. "Analyzing Linear DSGE models: the Method of Undetermined Markov States," Journal of Economic Dynamics and Control, Elsevier, vol. 151(C).
    15. Jonathon Hazell & Bledi Taska, 2020. "Downward Rigidity in the Wage for New Hires," Discussion Papers 2028, Centre for Macroeconomics (CFM).
    16. Gehrke, Britta & Weber, Enzo, 2018. "Identifying asymmetric effects of labor market reforms," European Economic Review, Elsevier, vol. 110(C), pages 18-40.
    17. Britta Gehrke & Brigitte Hochmuth, 2021. "Counteracting Unemployment in Crises: Non‐Linear Effects of Short‐Time Work Policy," Scandinavian Journal of Economics, Wiley Blackwell, vol. 123(1), pages 144-183, January.
    18. Qazi Haque & Nicolas Groshenny & Mark Weder, 2020. "Do We Really Know that U.S. Monetary Policy was Destabilizing in the 1970s?," Economics Working Papers 2020-10, Department of Economics and Business Economics, Aarhus University.
    19. Pascal Michaillat & Emmanuel Saez, 2014. "Aggregate Demand, Idle Time, and Unemployment," Discussion Papers 1419, Centre for Macroeconomics (CFM).
    20. Rafael Lalive & Camille Landais & Josef Zweimüller, 2013. "Market Externalities of Large Unemployment Insurance Extension Programs," NRN working papers 2013-12, The Austrian Center for Labor Economics and the Analysis of the Welfare State, Johannes Kepler University Linz, Austria.
    21. Wolf, Martin, 2020. "Pecuniary externalities in economies with downward wage rigidity," Journal of Monetary Economics, Elsevier, vol. 116(C), pages 219-235.
    22. Maria Molina-Domene, 2018. "Labor specialization as a source of market frictions," CEP Discussion Papers dp1580, Centre for Economic Performance, LSE.
    23. Felix Koenig & Alan Manning & Barbara Petrongolo, 2016. "Reservation Wages and the Wage Flexibility Puzzle," Working Papers 787, Queen Mary University of London, School of Economics and Finance.
    24. Christopher A. Pissarides, 2013. "Unemployment in the Great Recession," Economica, London School of Economics and Political Science, vol. 80(319), pages 385-403, July.
    25. Pascal Michaillat & Emmanuel Saez, 2013. "A Model of Aggregate Demand and Unemployment," CEP Discussion Papers dp1235, Centre for Economic Performance, LSE.
    26. Florin Bilbiie & Tommaso Monacelli & Roberto Perotti, 2015. "Is Government Spending at the Zero Lower Bound Desirable?," Working Papers 555, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
    27. Sanjay K. Chugh & Christian Merkl, 2016. "Efficiency And Labor Market Dynamics In A Model Of Labor Selection," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 57(4), pages 1371-1404, November.
    28. Andrew C. Johnston & Alexandre Mas, 2016. "Potential Unemployment Insurance Duration and Labor Supply: The Individual and Market-Level Response to a Benefit Cut," NBER Working Papers 22411, National Bureau of Economic Research, Inc.
    29. Carrillo-Tudela, Carlos & Clymo, Alex & Comunello, Camila & Jäckle, Annette & Visschers, Ludo & Zentler-Munro, David, 2023. "Search and reallocation in the COVID-19 pandemic: Evidence from the UK," Labour Economics, Elsevier, vol. 81(C).
    30. Aida Caldera Sánchez & Alain de Serres & Naomitsu Yashiro, 2017. "Reforming in a Difficult Macroeconomic Context: A Review of Issues and Recent Literature," Journal of International Commerce, Economics and Policy (JICEP), World Scientific Publishing Co. Pte. Ltd., vol. 8(01), pages 1-41, February.
    31. Peter Ganong & Fiona Greig & Pascal Noel & Daniel M. Sullivan & Joseph Vavra, 2024. "Spending and Job-Finding Impacts of Expanded Unemployment Benefits: Evidence from Administrative Micro Data," American Economic Review, American Economic Association, vol. 114(9), pages 2898-2939, September.
    32. Camille Landais & Pascal Michaillat & Emmanuel Saez, 2010. "A Macroeconomic Theory of Optimal Unemployment Insurance," NBER Working Papers 16526, National Bureau of Economic Research, Inc.
    33. Caponi, Vincenzo, 2014. "Public Employment Policies and Regional Unemployment Differences," IZA Discussion Papers 8511, IZA Network @ LISER.
    34. Mikael Carlsson & Stefan Eriksson & Nils Gottfries, 2013. "Product market imperfections and employment dynamics," Oxford Economic Papers, Oxford University Press, vol. 65(2), pages 447-470, April.
    35. Dieterle, Steven G. & Bartalotti, Otávio & Brummet, Quentin, 2018. "Revisiting the Effects of Unemployment Insurance Extensions on Unemployment: A Measurement Error-Corrected Regression Discontinuity Approach," IZA Discussion Papers 11496, IZA Network @ LISER.
    36. Schoder, Christian, 2020. "A Keynesian Dynamic Stochastic Disequilibrium model for business cycle analysis," Economic Modelling, Elsevier, vol. 86(C), pages 117-132.
    37. Piero Ferri & Annalisa Cristini & Anna Maria Variato, 2019. "Growth, unemployment and heterogeneity," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 14(3), pages 573-593, September.
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    39. Vasilev, Aleksandar, 2021. "A Real-Business-Cycle model with search-and-matching frictions and efficiency ("fair") wages," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 64(2), pages 1-23.
    40. Hashimoto, Ken-ichi & Ono, Yoshiyasu & Schlegl, Matthias, 2020. "Structural unemployment, underemployment, and secular stagnation," ISER Discussion Paper 1088rrr, Institute of Social and Economic Research, The University of Osaka, revised Jan 2023.
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    44. Landais, Camille & Michaillat, Pascal & Saez, Emmanuel, 2018. "A macroeconomic approach to optimal unemployment insurance: theory," LSE Research Online Documents on Economics 88304, London School of Economics and Political Science, LSE Library.
    45. Feng Dong, 2023. "Aggregate Implications of Financial Frictions for Unemployment," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 48, pages 45-71, April.
    46. Perez Perez, Jorge, 2020. "City Minimum Wages and Spatial Equilibrium Effects," SocArXiv fpx9e, Center for Open Science.
    47. Pascal Michaillat & Emmanuel Saez, 2024. "Beveridgean Phillips Curve," Papers 2401.12475, arXiv.org, revised Oct 2024.
    48. Adam M. Lavecchia, 2019. "Minimum Wage Policy with Optimal Taxes and Unemployment," Department of Economics Working Papers 2019-03, McMaster University.
    49. Fornaro, Luca, 2015. "International Debt Deleveraging," CEPR Discussion Papers 10469, C.E.P.R. Discussion Papers.
    50. Regis Barnichon & Andrew Figura, 2015. "Declining Desire to Work and Downward Trends in Unemployment and Participation," NBER Working Papers 21252, National Bureau of Economic Research, Inc.
    51. Gottfries, Nils & Stadin, Karolina, 2016. "The Matching Process:Search Or Mismatch?," Working Paper Series 2016:14, Uppsala University, Department of Economics.
    52. Dupraz, Stéphane & Nakamura, Emi & Steinsson, Jón, 2025. "A plucking model of business cycles," Journal of Monetary Economics, Elsevier, vol. 152(C).
    53. Kopiec, Paweł, 2020. "Employment prospects and the propagation of fiscal stimulus," Journal of Economic Dynamics and Control, Elsevier, vol. 117(C).
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    55. Hugo Erken & Eric Loon & Wouter Verbeek, 2015. "Mismatch on the Dutch Labour Market in the Great Recession," De Economist, Springer, vol. 163(4), pages 435-459, December.
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    57. Martins, Pedro S. & Snell, Andy & Stüber, Heiko & Thomas, Jonathan P., 2016. "Bias in Returns to Tenure When Firm Wages and Employment Comove: A Quantitative Assessment and Solution," IZA Discussion Papers 9849, IZA Network @ LISER.
    58. Michaillat, Pascal, 2023. "Modeling Migration-Induced Unemployment," Santa Cruz Department of Economics, Working Paper Series qt4vq4j061, Department of Economics, UC Santa Cruz.
    59. Luba Petersen & Guidon Fenig, 2015. "Distributing scarce jobs and output: Experimental evidence on the effects of rationing," Discussion Papers dp15-02, Department of Economics, Simon Fraser University.
    60. Marinescu, Ioana, 2017. "The general equilibrium impacts of unemployment insurance: Evidence from a large online job board," Journal of Public Economics, Elsevier, vol. 150(C), pages 14-29.
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    65. Yuelin Liu, 2014. "Endogenous Labor Force Participation, Involuntary Unemployment and Monetary Policy," Discussion Papers 2014-41, School of Economics, The University of New South Wales.
    66. Marco Fongoni, 2025. "Costly Wage Cuts, Relative Wage Comparisons, and Unemployment Hysteresis," AMSE Working Papers 2540, Aix-Marseille School of Economics, France.
    67. Jonathan Heathcote & Fabrizio Perri, 2015. "Wealth and Volatility," NBER Working Papers 20994, National Bureau of Economic Research, Inc.
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    71. Domenico Ferraro, 2018. "The Asymmetric Cyclical Behavior of the U.S. Labor Market," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 30, pages 145-162, October.
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    73. Annalisa Cristini & Piero Ferri & Anna Maria Variato, 2015. "Search Theories and Aggregate Demand," Review of Economics & Finance, Better Advances Press, Canada, vol. 5, pages 55-65, August.
    74. Pascal Michaillat & Emmanuel Saez, 2022. "u^* = \sqrt{uv}," Papers 2206.13012, arXiv.org, revised Jun 2024.
    75. Peter A. Diamond, 2013. "Cyclical Unemployment, Structural Unemployment," NBER Working Papers 18761, National Bureau of Economic Research, Inc.
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    78. Pietro Tebaldi & Matthew Jackson, 2014. "A Forest Fire Theory of Recessions and Unemployment," 2014 Meeting Papers 120, Society for Economic Dynamics.
    79. Yuan, Wen Jin & Antonio, Katherine & Butcher, Arona, 2022. "Incorporating Industry-Specific Wages and Unemployment into the GTAP Model: U.S.-EU Trade Liberalization Scenarios," Conference papers 333450, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
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    81. Tumino, Alberto, 2015. "The scarring effect of unemployment from the early ‘90s to the Great Recession," ISER Working Paper Series 2015-05, Institute for Social and Economic Research.
    82. Marco Fongoni, 2018. "Workers' reciprocity and the (ir)relevance of wage cyclicality for the volatility of job creation," Working Papers 1809, University of Strathclyde Business School, Department of Economics.
    83. Landais, Camille & Giupponi, Giulia, 2018. "Subsidizing Labor Hoarding in Recessions: The Employment & Welfare Effects of Short Time Work," CEPR Discussion Papers 13310, C.E.P.R. Discussion Papers.
    84. Davis, Steven J. & Krolikowski, Pawel M., 2023. "Sticky Wages on the Layoff Margin," IZA Discussion Papers 16351, IZA Network @ LISER.
    85. Kohlbrecher, Britta, 2019. "The (ir)relevance of real wage rigidity for optimal monetary policy," FAU Discussion Papers in Economics 07/2019, Friedrich-Alexander University Erlangen-Nuremberg, Institute for Economics.
    86. Molina-Domene, Maria, 2018. "Labor specialization as a source of market frictions," LSE Research Online Documents on Economics 91703, London School of Economics and Political Science, LSE Library.
    87. Marinescu, Ioana, 2019. "Reprint of: The general equilibrium impacts of unemployment insurance: Evidence from a large online job board," Journal of Public Economics, Elsevier, vol. 171(C), pages 70-85.
    88. Federico Mandelman & Yang Yu & Francesco Zanetti, 2026. "Immigration, Labor Shortages, and Labor Market Dynamics," CESifo Working Paper Series 12546, CESifo.
    89. Gordon Phillips & Kyle Herkenhoff, 2015. "The Impact of Consumer Credit Constraints on Earnings, Sorting, and Job Finding Rates of Displaced Workers," 2015 Meeting Papers 375, Society for Economic Dynamics.
    90. Föll, Tobias, 2017. "Financial Constraints, Wage Rigidity, and the Labor Market," VfS Annual Conference 2017 (Vienna): Alternative Structures for Money and Banking 168080, Verein für Socialpolitik / German Economic Association.
    91. Fredriksson, Peter & Söderström, Martin, 2020. "The equilibrium impact of unemployment insurance on unemployment: Evidence from a non-linear policy rule," Journal of Public Economics, Elsevier, vol. 187(C).
    92. Inés Hardoy & Pål Schøne, 2014. "Does the impact of plant closure on labour market attachment differ between immigrants and native workers across the business cycle?," Empirical Economics, Springer, vol. 46(1), pages 229-252, February.
    93. Kohlbrecher, Britta, 2016. "Optimal Monetary Policy under Rigid Wages and Decreasing Returns," VfS Annual Conference 2016 (Augsburg): Demographic Change 145867, Verein für Socialpolitik / German Economic Association.
    94. Michael W. L. Elsby & Ryan Michaels & David Ratner, 2015. "The Beveridge Curve: A Survey," Journal of Economic Literature, American Economic Association, vol. 53(3), pages 571-630, September.
    95. Pascal Michaillat & Emmanuel Saez, 2014. "An Economical Business-Cycle Model," NBER Working Papers 19777, National Bureau of Economic Research, Inc.
    96. Michaillat, Pascal, 2012. "A Theory of Countercyclical Government-Consumption Multiplier," CEPR Discussion Papers 9052, C.E.P.R. Discussion Papers.
    97. Nelson Lind, 2017. "Credit Regimes and the Seeds of Crisis," 2017 Meeting Papers 1474, Society for Economic Dynamics.
    98. Meier, Mario & Obermeier, Tim, 2017. "Employer Screening, Unemployment Stigma and Optimal Unemployment Insurance," EconStor Preprints 148303, ZBW - Leibniz Information Centre for Economics.
    99. Gerritsen, Aart, 2017. "Equity and efficiency in rationed labor markets," Journal of Public Economics, Elsevier, vol. 153(C), pages 56-68.
    100. Aysun, Uluc & Bouvet, Florence & Hofler, Richard, 2014. "An alternative measure of structural unemployment," Economic Modelling, Elsevier, vol. 38(C), pages 592-603.
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    102. Wu, Jhih-Chian, 2025. "Job separation shocks, costly vacancy creation and job rationing," European Economic Review, Elsevier, vol. 177(C).
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    105. Altmann, Steffen & Glenny, Anita Marie & Mahlstedt, Robert & Sebald, Alexander, 2022. "The Direct and Indirect Effects of Online Job Search Advice," IZA Discussion Papers 15830, IZA Network @ LISER.
    106. Paula Alexandra Roibu Crucianu, 2019. "The Impact of Unemployment on the Economic Growth in Romania," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 174-179, December.
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  28. Camille Landais & Pascal Michaillat & Emmanuel Saez, 2010. "A Macroeconomic Theory of Optimal Unemployment Insurance," NBER Working Papers 16526, National Bureau of Economic Research, Inc.

    Cited by:

    1. Rothstein, Jesse & Valletta, Robert G., 2014. "Scraping By: Income and Program Participation After the Loss of Extended Unemployment Benefits," IZA Discussion Papers 8022, IZA Network @ LISER.
    2. Kurt Mitman & Stanislav Rabinovich, 2011. "Pro-cyclical Unemployment Benefits? Optimal Policy in an Equilibrium Business Cycle Model," PIER Working Paper Archive 11-023, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
    3. Valletta, Robert G., 2014. "Recent Extensions of U.S. Unemployment Benefits: Search Responses in Alternative Labor Market States," IZA Discussion Papers 8247, IZA Network @ LISER.
    4. Gabriel Chodorow-Reich & Loukas Karabarbounis, 2016. "The Limited Macroeconomic Effects of Unemployment Benefit Extensions," Working Papers 733, Federal Reserve Bank of Minneapolis.
    5. David Saha & Ronnie Schöb, 2019. "Unemployment insurance in unionized labor markets with mobile workers: neither Ghent nor centralized," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 46(2), pages 305-326, May.
    6. Casey B. Mulligan, 2011. "The Expanding Social Safety Net," NBER Working Papers 17654, National Bureau of Economic Research, Inc.
    7. Tom Krebs & Martin Scheffel, 2016. "Labor Market Institutions and the Cost of Recessions," CESifo Working Paper Series 6262, CESifo.
    8. Robin Boadway & Katherine Cuff, 2016. "Optimal Unemployment Insurance And Redistribution," Working Paper 1375, Economics Department, Queen's University.
    9. Taskin, Temel, 2011. "Unemployment insurance and home production," MPRA Paper 34878, University Library of Munich, Germany.
    10. Mr. Tom Krebs & Mr. Martin Scheffel, 2013. "Macroeconomic Evaluation of Labor Market Reform in Germany," IMF Working Papers 2013/042, International Monetary Fund.
    11. Michaillat, Pascal & Saez, Emmanuel, 2015. "The optimal use of government purchases for macroeconomic stabilization," LSE Research Online Documents on Economics 87160, London School of Economics and Political Science, LSE Library.
    12. Lommerud, Kjell Erik & Straume, Odd Rune & Vagstad, Steinar, 2012. "Employment protection and unemployment benefits: on technology adoption and job creation in a matching model," Working Papers in Economics 18/12, University of Bergen, Department of Economics.
    13. Parkhomenko, Andrii, 2016. "Opportunity to Move: Macroeconomic Effects of Relocation Subsidies," MPRA Paper 75256, University Library of Munich, Germany.
    14. Rothstein, Jesse, 2011. "Unemployment Insurance and Job Search in the Great Recession," Institute for Research on Labor and Employment, Working Paper Series qt5611t356, Institute of Industrial Relations, UC Berkeley.
    15. Adam M. Lavecchia, 2019. "Minimum Wage Policy with Optimal Taxes and Unemployment," Department of Economics Working Papers 2019-03, McMaster University.
    16. Rothstein, Jesse & von Wachter, Till, 2016. "Social Experiments in the Labor Market," Department of Economics, Working Paper Series qt6605k20b, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
    17. Ek Spector, Susanne, 2012. "Unemployment Benefits or Taxes: How Should Policy Makers Redistribute Income over the Business Cycle?," IZA Discussion Papers 6308, IZA Network @ LISER.
    18. Pollak, Andreas, 2013. "Employment Insurance and the Business Cycle," MPRA Paper 49358, University Library of Munich, Germany.
    19. Stähler, Nikolai & Moyen, Stephane & Winkler, Fabian, 2016. "Optimal Unemployment Insurance and International Risk Sharing," VfS Annual Conference 2016 (Augsburg): Demographic Change 145612, Verein für Socialpolitik / German Economic Association.
    20. Michaillat, Pascal & Saez, Emmanuel, 2016. "The Optimal Use of Government Purchases for Stabilization," CEPR Discussion Papers 11577, C.E.P.R. Discussion Papers.
    21. Pascal Michaillat & Emmanuel Saez, 2014. "Aggregate Demand, Idle Time, and Unemployment," Upjohn Working Papers 14-214, W.E. Upjohn Institute for Employment Research.
    22. Florian Scheuer, 2012. "Optimal Asset Taxes in Financial Markets with Aggregate Uncertainty," NBER Working Papers 17817, National Bureau of Economic Research, Inc.
    23. McKay, Alisdair & Reis, Ricardo, 2016. "Optimal automatic stabilizers," LSE Research Online Documents on Economics 67049, London School of Economics and Political Science, LSE Library.
    24. Kory Kroft & Matthew J. Notowidigdo, 2011. "Should Unemployment Insurance Vary With the Unemployment Rate? Theory and Evidence," NBER Working Papers 17173, National Bureau of Economic Research, Inc.
    25. Davide Malacrino & Eran Hoffmann, 2016. "Employment Time and the Cyclicality of Earnings Growth," 2016 Meeting Papers 1556, Society for Economic Dynamics.
    26. Casey B. Mulligan, 2012. "Do Welfare Policies Matter for Labor Market Aggregates? Quantifying Safety Net Work Incentives since 2007," NBER Working Papers 18088, National Bureau of Economic Research, Inc.
    27. Henry S. Farber & Robert G. Valletta, 2013. "Do Extended Unemployment Benefits Lengthen Unemployment Spells? Evidence from Recent Cycles in the U.S. Labor Market," NBER Working Papers 19048, National Bureau of Economic Research, Inc.
    28. Johannes F. Schmieder & Till von Wachter, 2016. "The Effects of Unemployment Insurance Benefits: New Evidence and Interpretation," NBER Working Papers 22564, National Bureau of Economic Research, Inc.
    29. Inés Hardoy & Pål Schøne, 2014. "Does the impact of plant closure on labour market attachment differ between immigrants and native workers across the business cycle?," Empirical Economics, Springer, vol. 46(1), pages 229-252, February.
    30. Michaillat, Pascal, 2011. "Fiscal Multipliers Over the Business Cycle," CEPR Discussion Papers 8610, C.E.P.R. Discussion Papers.
    31. Michaillat, Pascal, 2012. "A theory of countercyclical government-consumption multiplier," LSE Research Online Documents on Economics 54277, London School of Economics and Political Science, LSE Library.
    32. Meier, Mario & Obermeier, Tim, 2017. "Employer Screening, Unemployment Stigma and Optimal Unemployment Insurance," EconStor Preprints 148303, ZBW - Leibniz Information Centre for Economics.
    33. Martin Gervais, 2012. "Optimal Unemployment Insurance in a Directed Search Model," 2012 Meeting Papers 1177, Society for Economic Dynamics.
    34. Scott Baker & Andrey Fradkin, 2011. "What Drives Job Search? Evidence from Google Search Data," Discussion Papers 10-020, Stanford Institute for Economic Policy Research.
    35. Machikita, Tomohiro & Kohara, Miki & Sasaki, Masaru, 2013. "The Effect of Extended Unemployment Benefit on the Job Finding Hazards: A Quasi-Experiment in Japan," IZA Discussion Papers 7559, IZA Network @ LISER.
    36. Johannes F. Schmieder & Till M. von Wachter & Stefan Bender, 2012. "The Effects of Extended Unemployment Insurance over the Business Cycle: Evidence from Regression Discontinuity Estimates Over Twenty Years," NBER Working Papers 17813, National Bureau of Economic Research, Inc.
    37. Thomas Piketty & Emmanuel Saez, 2012. "Optimal Labor Income Taxation," NBER Working Papers 18521, National Bureau of Economic Research, Inc.
    38. Jung, Philip & Kuester, Keith, 2011. "Optimal Labor-Market Policy in Recessions," Working Papers 11-1, University of Mannheim, Department of Economics.
    39. Lee, David & Saez, Emmanuel, 2012. "Optimal minimum wage policy in competitive labor markets," Journal of Public Economics, Elsevier, vol. 96(9-10), pages 739-749.

Articles

  1. Pascal Michaillat & Emmanuel Saez, 2025. "Has the Recession Started?," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 87(6), pages 1047-1058, December.
    See citations under working paper version above.
  2. Pascal Michaillat & Emmanuel Saez, 2022. "An economical business-cycle model [Breaking through the zero lower bound]," Oxford Economic Papers, Oxford University Press, vol. 74(2), pages 382-411.
    See citations under working paper version above.
  3. Pascal Michaillat & Emmanuel Saez, 2021. "Resolving New Keynesian Anomalies with Wealth in the Utility Function," The Review of Economics and Statistics, MIT Press, vol. 103(2), pages 197-215, May.
    See citations under working paper version above.
  4. Erik Eyster & Kristóf Madarász & Pascal Michaillat, 2021. "Pricing Under Fairness Concerns," Journal of the European Economic Association, European Economic Association, vol. 19(3), pages 1853-1898.
    See citations under working paper version above.
  5. Pascal Michaillat & Emmanuel Saez, 2019. "Optimal Public Expenditure with Inefficient Unemployment," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 86(3), pages 1301-1331.

    Cited by:

    1. Michau, Jean-Baptiste, 2025. "Fiscal policy under secular stagnation: An optimal pump-priming strategy," Journal of Economic Dynamics and Control, Elsevier, vol. 175(C).
    2. Paweł Kopiec, 2025. "Labor market slack, household inequality and monetary policy," NBP Working Papers 375, Narodowy Bank Polski.
    3. Mishel Ghassibe & Francesco Zanetti, 2022. "State Dependence of Fiscal Multipliers: the Source of Fluctuations Matters," BCAM Working Papers 2204, Birkbeck Centre for Applied Macroeconomics.
    4. Kopiec, Paweł, 2022. "The government spending multiplier in the Heterogeneous Agent New Keynesian model," European Economic Review, Elsevier, vol. 145(C).
    5. Javier Bianchi & Pablo Ottonello & Ignacio Presno, 2019. "Fiscal Stimulus Under Sovereign Risk," International Finance Discussion Papers 1257, Board of Governors of the Federal Reserve System (U.S.).
    6. Julien Albertini & Stéphane Auray & Hafedh Bouakez & Aurélien Eyquem, 2020. "Taking off into the Wind: Unemployment Risk and State-Dependent Government Spending Multipliers," Working Papers halshs-02452369, HAL.
    7. Pascal Michaillat & Emmanuel Saez, 2019. "An Economical Business-Cycle Model," Papers 1912.07163, arXiv.org, revised Apr 2021.
    8. Pascal Michaillat & Emmanuel Saez, 2024. "Beveridgean Phillips Curve," Papers 2401.12475, arXiv.org, revised Oct 2024.
    9. Michaillat, Pascal, 2023. "Modeling Migration-Induced Unemployment," Santa Cruz Department of Economics, Working Paper Series qt4vq4j061, Department of Economics, UC Santa Cruz.
    10. Youssef Benzarti & Jarkko Harju, 2020. "Can Payroll Tax Cuts Help Firms During Recessions?," NBER Working Papers 27485, National Bureau of Economic Research, Inc.
    11. Pascal Michaillat & Emmanuel Saez, 2024. "Has the Recession Started?," Papers 2408.05856, arXiv.org, revised Sep 2024.
    12. Paweł Kopiec, 2022. "A Theory of The Procyclical Effectiveness of Forward Guidance," KAE Working Papers 2022-081, Warsaw School of Economics, Collegium of Economic Analysis.
    13. Hickey, Rónán & Lozej, Matija & Smyth, Diarmaid, 2019. "Government Investment, Its Financing and the Public Capital Stock: A Small Open Economy Perspective," Research Technical Papers 9/RT/19, Central Bank of Ireland.
    14. Giulia Giupponi & Camille Landais & Alice Lapeyre, 2022. "Should We Insure Workers or Jobs during Recessions?," Journal of Economic Perspectives, American Economic Association, vol. 36(2), pages 29-54, Spring.
    15. Garin, Andrew, 2019. "Putting America to work, where? Evidence on the effectiveness of infrastructure construction as a locally targeted employment policy," Journal of Urban Economics, Elsevier, vol. 111(C), pages 108-131.
    16. CPD IRBD 2020 Team, 2020. "Responding to COVID-19: A Rapid Assessment of Stimulus Packages and Relief Measures," CPD Working Paper 136, Centre for Policy Dialogue (CPD).
    17. Epstein, Brendan & Nunn, Ryan & Orak, Musa & Patel, Elena, 2023. "Taxation, social welfare, and labor market frictions," European Economic Review, Elsevier, vol. 151(C).
    18. Wataru Miyamoto & Thuy Lan Nguyen & Dmitriy Sergeyev, 2017. "Government Spending Multipliers Under the Zero Lower Bound: Evidence from Japan," Staff Working Papers 17-40, Bank of Canada.
    19. Landais, Camille & Michaillat, Pascal & Saez, Emmanuel, 2018. "A macroeconomic approach to optimal unemployment insurance: applications," LSE Research Online Documents on Economics 88303, London School of Economics and Political Science, LSE Library.
    20. Michaillat, Pascal & Saez, Emmanuel, 2019. "Beveridgean Unemployment Gap," CEPR Discussion Papers 14132, C.E.P.R. Discussion Papers.
    21. Matusche, Alexander, 2025. "The short-run employment effects of public infrastructure investment," European Economic Review, Elsevier, vol. 177(C).
    22. Kopiec, Pawel, 2019. "Household Heterogeneity and the Value of Government Spending Multiplier: an Analytical Characterization," MPRA Paper 93499, University Library of Munich, Germany.
    23. Ogawa, Shogo, 2022. "Survey of non-Walrasian disequilibrium economic theory," MPRA Paper 115011, University Library of Munich, Germany.
    24. Hickey, Rónán & Lozej, Matija & Smyth, Diarmaid, 2020. "Financing government investment and its implications for public capital: A small open economy perspective," Economic Modelling, Elsevier, vol. 93(C), pages 620-641.

  6. Camille Landais & Pascal Michaillat & Emmanuel Saez, 2018. "A Macroeconomic Approach to Optimal Unemployment Insurance: Theory," American Economic Journal: Economic Policy, American Economic Association, vol. 10(2), pages 152-181, May.
    See citations under working paper version above.
  7. Camille Landais & Pascal Michaillat & Emmanuel Saez, 2018. "A Macroeconomic Approach to Optimal Unemployment Insurance: Applications," American Economic Journal: Economic Policy, American Economic Association, vol. 10(2), pages 182-216, May.
    See citations under working paper version above.
  8. Pascal Michaillat & Emmanuel Saez, 2015. "Aggregate Demand, Idle Time, and Unemployment," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 130(2), pages 507-569.
    See citations under working paper version above.
  9. Pascal Michaillat, 2014. "A Theory of Countercyclical Government Multiplier," American Economic Journal: Macroeconomics, American Economic Association, vol. 6(1), pages 190-217, January.
    See citations under working paper version above.
  10. Pascal Michaillat, 2012. "Do Matching Frictions Explain Unemployment? Not in Bad Times," American Economic Review, American Economic Association, vol. 102(4), pages 1721-1750, June.
    See citations under working paper version above.
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