U.S. CPS gross flows data indicate that in recessions firms actually increase their hiring rates from the pools of the … dynamic behavior of the labor share of GDP. The counter-cyclicality of hiring rates and job values, which may appear counter … productivity and the forward-looking concept of job value. The paper explains the high volatility of firm recruiting behavior, as …

its persistence and increase the volatility of vacancies. Hiring subsidies and unemployment benefits have substantial …

percent increase in the state-level effective minimum wage reduces vacancies by 2.4 percent in the same quarter, and the … cumulative effect is as large as 4.5 percent a year later. The negative effect on vacancies is more pronounced for occupations …. We argue that our focus on vacancies versus on employment has a distinct advantage of highlighting a mechanism through …

its persistence and increase the volatility of vacancies. Hiring subsidies and unemployment benefits have substantial …

, so-called efficient bargaining, for each period. The frictional labor markets reasonably reflect the volatility of real …

non-Ramsey decentralized equilibrium, labor market volatility is inefficient. Keeping fixed the structural parameters, the … Ramsey government achieves efficient labor market volatility; doing so requires labor-income tax volatility that is orders of … to understand optimal tax volatility. …

non-Ramsey decentralized equilibrium, labor market volatility is inefficient. Keeping fixed the structural parameters, the … Ramsey government achieves efficient labor market volatility; doing so requires labor-income tax volatility that is orders of … order to understand optimal tax volatility. …