workers, the creation of jobs, and the wage distribution as functions of unemployment duration. In the model, each worker has … akin to that of discouragement: over the unemployment spell, unemployed workers update their beliefs about their job … longer unemployment spells have lower permanent incomes. Another contribution is to apply lattice-theoretic techniques to …

The paper develops a model of directed search on the job where transitions of workers between unemployment, employment …. Productivity shocks are found to generate large fluctuations in workers' transitions, unemployment and vacancies when matches are …

In this paper we consider learning from search as a mechanism to understand the relationship between unemployment … over unemployment spells. After each period of search, unemployed workers update their beliefs about the market matching … efficiency. We characterize situations where reservation wages decline with unemployment duration. Consequently, the wage …

implies that changes in the unemployment benefit and the minimum wage have no effect on an employed worker's job …

different employment states (unemployment, and employment at different wages). Unlike the models of random search on the job …

We build a directed search model of the labor market in which workers' transitions between unemployment, employment … unemployment volatility, 30 percent of vacancy volatility and for the nearly perfect negative correlation between unemployment and …