Dennis J. Snower is President of the Kiel Institute for the World Economy and Professor of Economics at the Christian-Albrechts Universität zu Kiel. As part of his research career, he originated the insider-outsider theory of employment and unemployment with Assar Lindbeck, the theory of high-low search with Steve Alpern, and the chain reaction theory of unemployment and the theory of frictional growth with Marika Karanassou and Hector Sala. He was a seminal contributor to the macroeconomics of imperfect competition, and has published extensively on labor economics, macroeconomic theory and policy, and the design of welfare systems. He has recently proposed a new explanation of the inflation-unemployment tradeoff.[1]