vacancy-unemployment ratio and labor productivity have nearly the same variance. I establish this claim both using analytical …-cycle-frequency fluctuations in unemployment and job vacancies in response to shocks of a plausible magnitude. In the U.S., the vacancy-unemployment … ratio is 20 times as volatile as average labor productivity, while under weak assumptions, search models predict that the …

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 …

firm. We overview key theories related to offshoring and its labor market effects and survey three waves of the literature …

Recent assessments of occupational licensing have shown varying effects of the institution on labor market outcomes …. This study revisits the relationship between occupational licensing and labor market outcomes by analyzing a new topical … sets of person-level characteristics. We exploit this larger and more detailed data set to examine the labor market …

This paper investigates the potential reasons for the surprisingly different labor market performance of the United … States, Canada, Germany, and several other OECD countries during and after the Great Recession of 2008-09. Unemployment rates … increased moderately in Canada. More recent data also show that, unlike Germany and Canada, the U.S. unemployment rate remains …