We reconsider the central role of the natural rate of unemployment (NRU) in forming policy decisions. We show that the … unemployment rate does not gravitate towards the NRU due to frictional growth, a phenomenon that encapsulates the interplay between … empirical analysis and find that the NRU explains only 33% of the unemployment variation, while frictional growth accounts for …

what extent business cycles or unemployment levels influence entries into entrepreneurship. Our analysis for Germany … reveals that there is a positive relationship between unemployment rates and start-up activities. Moreover, new business … disentangling periods of low and high unemployment we find that the effect of unemployment on new business formation is only …

rates of unemployment and the business cycle over the last decade. We develop the theoretical framework that predicts that … the individual perceptions of job insecurity depend on regional unemployment rates and on the within-group variance of … Monitoring Survey. Our results indicate that while higher rates of unemployment make workers feel less job secure, the wage …

in recessions by examining the movement of relative unemployment rates over the business cycle. Any conclusion drawn from … of unemployment are not examined. Using Current Population Survey data matched across adjacent months from 1989 to 2004 … the racial unemployment gap near the peak of the business cycle is driven by a reduction in the rate of job loss for …

We build an analytically and computationally tractable stochastic equilibrium model of unemployment in heterogeneous … countercyclical unemployment, and is simultaneously consistent with procyclical reallocation, countercyclical separations and a … negatively-sloped Beveridge curve. Moreover, the model exhibits unemployment duration dependence, which (when calibrated to long …

cycle component. We find significantly larger unemployment responses to economic shocks for low-skilled workers relative to …

average re-employment probabilities. Living in an area with high local unemployment reduces re-employment chances as does … somewhat if a worker is unemployed in an area with high overall unemployment. …

. The Beveridge curve depicts the steady state of the model, whereby inflows into unemployment are equal to the outflows …