in unemployment and vacancies but also wages, is the drop in consumption for the unemployed. In addition, explaining the …

In this paper I argue that most comparisons of the unemployment dynamics in the United States and Europe since the war … experiences in the two continents. Growth has a big impact on unemployment in econometric estimation. I use established estimates …

role to cross-country differences in social unemployment insurance institutions that Prescott argues can be safely ignored …

labor market models have a hard time generating the degree of cyclical volatility in unemployment and vacancies that is …, job destruction and unemployment. We start from the reasonable assumption that the disutility of effort (in our case the … the average unemployment rate. It is important to point out that in our paper, incorporating an incentive compatible wage …

unemployment rate to small and negative shocks to aggregate productivity. …