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 …

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 …

both the vacancy-unemployment ratio and employment. We show that the standard version of the Mortensen-Pissarides matching …

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

and unemployment. The model features both hiring freeze and bankruptcies, where the former represents a sudden shut down … unemployment ratio displayed by U.S. data. A calibration of the model that explicitly considers hiring freeze and bankruptcy can …