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 …

unemployment. Households take unemployment risk as given in making their participation decisions. I am thus able to study the … interactions of product and labor market institutions in a three-states representation of the labor market. Unemployment matters …

In the context of a standard equilibrium matching framework, this paper considers how a duration dependent unemployment … insurance (UI) system affects the dynamics of unemployment and wages in an economy subject to stochastic job-destruction shocks … recessions which stabilizes unemployment levels over the cycle …

In aggregate U.S. data, exogenous shocks to labor productivity induce highly persistent and hump-shaped responses to … both the vacancy-unemployment ratio and employment. We show that the standard version of the Mortensen-Pissarides matching …

providing insurance to workers against variation in labor productivity. The insurance motive delivers endogenous wage rigidity … in unemployment and vacancies but also wages, is the drop in consumption for the unemployed. In addition, explaining the …

This paper investigates the relationship of the ``unemployment gap'' between the United States and Europe to the … opening of international capital markets. The unemployment gap widened dramatically in the mid-1980's, a time period … implications of capital mobility for unemployment levels and current accounts are studied in a multi-country dynamic model with …

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

unemployment insurance is not perfect. With imperfect risk sharing, strict zero-inflation policy is no longer optimal even if the …