In this paper, we present a matching model with adverse selection that explains why flows into and out of unemployment …

, selective survey of the literature. Four fundamental questions are explored: how are unemployment, job vacancies, and employment …

unemployment at large firms are generally found to be more cyclical. However, this stylised fact disappears when the composition of …

and flows via non-participation. Close to two-thirds of the volatility of unemployment in the UK over this period can be …Unemployment varies substantially over time and across subgroups of the labour market. Worker flows among labour market … states act as key determinants of this. We examine how the structure of unemployment across groups and its cyclical movements …

stamps which partially insure productivity risk is greater than the value of unemployment insurance which provides (partial …

worker who experiences a one-percentage-point higher unemployment rate while the worker is 16-24 years old has a 0 ….14 percentage-point higher unemployment rate at ages 25-29 and 0.03 percentage points higher at ages 30-34. The persistence of this …

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 …