employment is the efficient unemployment rate, u*. We define u* as the unemployment rate that minimizes the nonproductive use of …). Accordingly, the efficient unemployment rate is the geometric average of the unemployment and vacancy rates: u* = √uv. We compute …

This study documents how job seekers update perceived job-finding prospects by unemployment duration and by learning … about aggregate unemployment. We find that job seekers perceive an 18% decline in their job-finding probability for each … additional month of unemployment, but perceive a higher job-finding probability when the aggregate unemployment rate is …

How has the internet affected search and hiring, and what are the implications for aggregate unemployment? Answering … indicate that the steady-state unemployment rate fell by as much as 14% due to the broadband internet expansion …

This paper provides evidence on the behavior of reservation wages over the spell of unemployment using high … to 24 weeks, we find that self-reported reservation wages decline at a modest rate over the spell of unemployment, with … point estimates ranging from 0.05 to 0.14 percent per week of unemployment. The decline in reservation wages is driven …

. The effect on the exit rate from unemployment is unclear. In this paper we show that, if agents have exponential time … unemployment later. Using two large longitudinal data sets, we find that various measures of impatience are negatively correlated … with search effort and the exit rate from unemployment, and are orthogonal to reservation wages. Overall, impatience has a …

reservation wages, including key policy variables such as unemployment insurance (UI), is scarce. In France, unemployed people …

We document the sources behind the costs of job loss over the business cycle using administrative data from Germany …

We use a panel of survey responses linked to administrative data in Germany to measure the depreciation of skills while … workers are unemployed. Both the reemployment hazard rate and reemployment earnings steadily fall with unemployment duration …