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In the 1970s, European unemployment started increasing. It increased further in the 1980s, to reach a plateau in the … 1990s. It is still high today, although the average unemployment rate hides a high degree of heterogeneity across countries …. The focus of researchers and policy makers was initially on the role of shocks. As unemployment remained high, the focus …
Persistent link: https://www.econbiz.de/10005084843
the unemployment rate in the special case of homogenous firms. Furthermore, the equilibrium is unique. As the dimension of …
Persistent link: https://www.econbiz.de/10009220650
-displacement earnings if displaced in mass-layoff events that occur when the national unemployment rate is below 6 percent. They lose a … staggering 2.8 years of pre-displacement earnings if displaced when the unemployment rate exceeds 8 percent. These results … opportunities respond to contemporaneous economic conditions. Finally, we confront leading models of unemployment fluctuations with …
Persistent link: https://www.econbiz.de/10009372449
We extend the concept of competitive search equilibrium to environments with private information, and in particular adverse selection. Principals (e.g. employers or agents who want to buy assets) post contracts, which we model as revelation mechanisms. Agents (e.g. workers, or asset holders)...
Persistent link: https://www.econbiz.de/10004991263
This paper extends Lucas and Prescott's (1974) search model to develop a notion of rest unemployment. The economy … unemployment (moving to a new labor market or waiting for labor market conditions to improve) and inactivity (enjoying leisure … evaluate the model. Quantitatively, we find that in the U.S. economy many more people may be in rest unemployment than in …
Persistent link: https://www.econbiz.de/10005714696
probability that an unemployed worker finds a job, the ins and outs of unemployment. Since 1948, the job finding probability has … accounted for three-quarters of the fluctuations in the unemployment rate in the United States and the employment exit …
Persistent link: https://www.econbiz.de/10005720875
separations, matching, and unemployment over the business cycle. Separating from employment when unemployment duration is long is … unemployment and unemployment durations. We examine wage cyclicality and employment separations over the past twenty years for …
Persistent link: https://www.econbiz.de/10005829195
Standard search and matching models of equilibrium unemployment, once properly calibrated, can generate only a small …
Persistent link: https://www.econbiz.de/10005778040
We provide a set of comparable estimates for the rates of inflow to and outflow from unemployment for fourteen OECD … economies using publicly available data. We then devise a method to decompose changes in unemployment into contributions … accounted for by changes in inflow and outflow rates for cases where unemployment deviates from its flow steady state, as it …
Persistent link: https://www.econbiz.de/10005580457
In this paper I explore optimal employment contract design in a random search framework, where workers search on and off the job for employment opportunities similar to that of Lentz (2010) and Bagger and Lentz (2013). The worker determines the frequency by which employment opportunities arrive...
Persistent link: https://www.econbiz.de/10010796538