driver of the unusually small increase in German unemployment in the Great Recession. One possible explanation is that firms …

rate and the unemployment rate? In the model, fluctuations are prominently driven by productivity shocks which are commonly … replicates the conditional volatility of job finding and unemployment, so that the Shimer critique does not apply. Instead the … shocks lead to a fall in job finding and an increase in unemployment thereby opposing the dynamics in the standard model …

This paper is aimed at investigating the effects of government intervention through unemployment benefits on …