either the official unemployment rate or alternative measures of labor market underutilization. Modest amounts of …We use a mix of new and existing data to develop the Aggregate Hours Gap (AHG), a novel measure of labor market … underutilization. Our measure differentiates individuals by detailed categories of labor market participation and uses data on their …

labor market frictions and worker heterogeneity provides a framework for studying the impact of trade on unemployment and …

unemployment. We show that heterogeneity, reflecting differences in match quality and worker assets, reduces the extent of … fluctuations in separations and unemployment. We find that the model faces a trade-off--it cannot produce both realistic dispersion … in wage growth across workers and realistic cyclical fluctuations in unemployment …

This paper provides a theoretical analysis of optimal minimum wage policy in a perfectly competitive labor market. We … show that a binding minimum wage -- while leading to unemployment -- is nevertheless desirable if the government values … redistribution toward low wage workers and if unemployment induced by the minimum wage hits the lowest surplus workers first. This …

Shimer's calibrated version of the Mortensen-Pissarides model generates unemployment fluctuates much smaller than the … has been challenged by Costain and Reiter, who say it generates unrealistically big differences in unemployment from the … labor market in the Kydland-Prescott model, especially ones incorporating household production, like Benhabib, Rogerson and …

the unskilled. By contrast, in Europe it is undoubtedly the rise and persistence of unemployment. Technology has been … identified as a key reason for the rising US wage inequality, while labor market rigidities are often cited as a key reason for … European unemployment. This paper seeks to provide a unified account of these major factor market developments. It models the …

of these costs have been shown to be reduced productivity in the labor market. The purpose of this paper is to present … unemployment. The sample of approximately 15,000 observations is drawn from the 1988 Alcohol Survey of the National Health … labor market participation are obtained using methods proposed by Amemiya and by Heckman and MaCurdy. For our sample of …

during cyclical downturns, when the opportunity cost of reallocation is lowest. Malfunctioning labor markets can disrupt this …, labor market inefficiencies generally lead to technological 'sclerosis,' characterized by excessively slow renovation …. Government incentives to production may alleviate high unemployment in this economy, but at the cost of exacerbating sclerosis …

"This paper reviews the literature on employment and labor law. It is observed that all jurisdictions in the world have … extensive employment and labor law, even though many economists recommend a reduction in legal restrictions. The review of the …