We introduce dynamic incentive contracts into a model of unemployment dynamics and present three results. First, wage … cyclicality from incentives does not dampen unemployment dynamics: the response of unemployment to shocks is first … cyclicality from bargaining dampens unemployment dynamics through the standard mechanism. Third, our calibrated model suggests 46 …

This paper develops a framework for analyzing unemployment in terms of …distribution of the inflow Into unemployment are the primary determinant of …drive the recession. In contrast to normal unemployment, cyclical unemployment …

dynamics in the tradition of Mortensen and Pissarides (1994). Our estimates discern 5 distinct types. Most unemployment comes … from just two of those types. Low employment types frequently circle among unemployment, short-term jobs, and being out of … the labor market. Short-term jobs play a role in the job-finding process related to the role of unemployment. These are …

New data compel a new view of events in the labor market during a recession. Unemployment rises almost entirely because … finding from new data is that a large fraction of workers departing jobs move to new jobs without intervening unemployment. I …

Over the last 15 years, Portugal and the United States have had the same average unemployment rate, about 6.5%. But … behind these similar rates hide two very different labor markets. Unemployment duration in Portugal is more than three times … that of the United States. Symmetrically, the flow of workers into unemployment in Portugal is, in proportion to the labor …

information establishes that any consistent explanation for worksharing, layoffs, severance pay, quits and unemployment must focus …

direction and convexity of the age-unemployment relationship and the impact of experience on turnover and wages. Actions taken … when unemployed have an important impact on equilibrium turnover rates, unemployment rates, and the work history of the … pool of unemployed. The sorting model is used to analyze racial differences in youth unemployment and major empirical …