observable factors affecting matching efficiency: (i) unemployment composition and (ii) dispersion in labor market conditions … exceptionally low matching efficiency can be attributed to composition. New highly disaggregated data on vacancies and unemployment …

I examine whether the cyclical behavior of unemployment has changed over the post WWII period. Specifically, I test … whether cyclical movements in unemployment have become more persistent. Finding that they have, indeed, become more persistent … payroll employment as well as unemployment and that increased persistence appears to be widespread across industries. At the …

This paper presents a framework to interpret movements in the Beveridge curve and analyze unemployment fluctuations. We … decompose the unemployment rate into three main components: (1) a component driven by changes in labor demand--movements along … by changes in the efficiency of matching unemployed workers to jobs. We find that cyclical movements in unemployment are …

Why do more educated workers experience lower unemployment rates and lower employment volatility? A closer look at the …-specific human capital reduce the outside option of workers, implying less incentives to separate. The model generates unemployment …

small businesses in the United States are one of the drivers explaining the unemployment dynamics during the Great Recession …

Shimer (2005) argues that the Mortensen-Pissarides (MP) model of unemployment lacks an amplification mechanism because … it generates less than 10 percent of the observed business cycle fluctuations in unemployment given labor productivity … correctly identify the shocks driving unemployment. Using a New-Keynesian framework to control for the endogeneity of …

dynamic, forward-looking model of unemployment and bankruptcy where persistent negative income shocks increase a household … brief unemployment spells can have significant long-term consequences on households' credit market outcomes. …