演講者簡介 : Professor Julen Esteban-Pretel為Ph.D. in Economics，New YorkUniversity (2004)。目前為日本東京大學經濟系助理教授。其主要領域為Macroeconomics及Labor and Monetary Economics。
演講摘要 : Unemployment shows persistent and long lasting responses to nominal and real shocks. Standard real business cycle models with search frictions but homogeneous labour force are able to generate some persistence but not enough to match the empirical evidence. Moreover, empirical studies emphasize the importance of the heterogeneity of the unemployment pool to fully understand unemployment dynamics. In particular, in most European countries the incidence of long term unemployment is big and well known. One of the causes/consequences of the long-term unemployment is the skill deterioration of the unemployment pool. We introduce the loss of the skill mechanism and therefore an heterogeneous labour force in a New Keynesian framework with search frictions. Unemployed workers face a probability of losing their skills. Calibrating the model to the Spanish economy, we show that the loss of the skill mechanism helps to explain the persistence in the response of unemployment to monetary shocks.
