“...Market Imperfections and Macroeconomic Dynamics is based upon a collection of papers originally presented at the 5th Theory and Methods in Macroeconomics (T2M)...”

“...This study examines age-dependent employment protection by extending the theory of equilibrium unemployment to account for a finite working life-time. The...”

“...This paper extends the job creation–job destruction approach to the labor market to take into account a deterministic finite horizon. As hirings and...”

“...Gali, Gertler, and Lopez-Salido (2007) recently show quantitatively that fluctuations in the efficiency of resource allocation do not generate sizable welfare...”

“...We investigate the welfare cost of business cycles implied by matching frictions. First, using the reduced form of the matching model, we show that job finding...”

“...This paper develops a quantitative Markovian overlapping generations model with altruistic individuals and incomplete financial markets in order to analyze the...”

“...This paper proposes a two‐country general‐equilibrium model incorporating a tradable sector with pricing‐to‐market as well as a nontradable sector. In that...”

“...Phelps [Phelps, E. (1994): “Low-wage employment subsidies versus the welfare state”, American Economic Review 84, 54–58.] presented the case for a low-wage...”

“...This paper presents empirical evidence and a theoretical foundation in favor of the view that the retirement age decision affects older workers' employment...”