multiple equilibria as a result of the fact that the reservation wage of the unemployed and the lowest production technology in …

Contrary to standard search model predictions, prior studies failed to estimate a positive effect of unemployment … balance between two offsetting forces: UI causes agents to seek higher-wage jobs, but also reduces wages by lengthening … unemployment. This implies a negative relationship between the UI unemployment duration and wage effects, which holds empirically …

cycle, of several dimensions of economic inequality, including wages, labor earnings, income, consumption, and wealth. After … distribution. Consumption inequality increased less than disposable income inequality, and tracked the latter much more closely at …

In this Paper we define and estimate measures of labour market frictions using data on job durations. We compare … we examine the policy effects of the minimum wage, unemployment benefits and search frictions. …