in their unemployment rate and not a decline in labour force participation rate. Policymakers should take account of …

The paper presents a tractable general equilibrium model of search unemployment that incorporates absence from work as …

We build an analytically and computationally tractable stochastic equilibrium model of unemployment in heterogeneous … countercyclical unemployment, and is simultaneously consistent with procyclical reallocation, countercyclical separations and a … negatively-sloped Beveridge curve. Moreover, the model exhibits unemployment duration dependence, which (when calibrated to long …

The distribution of unemployment duration in our equilibrium matching model with spell-dependent unemployment benefits … aggregate unemployment rate. Structural estimation using a German micro-data set (SOEP) allows us to discuss the effects of a … recent unemployment benefit reform (Hartz IV). The reform reduced unemployment by only 0.3%. Contrary to general beliefs, we …

surrounding the effects of rule-based monetary policy on unemployment dynamics in the euro area and the US. We employ a Bayesian … policy ; model uncertainty ; Bayesian model averaging ; unemployment gap ; Taylor rule …

. This model yields a simple relationship between (i) the unemployment rate, (ii) the value of non-market time, and (iii) the … and allow for measurement error. The estimated wage dispersion and mismatch for the US is consistent with an unemployment …

We build an analytically and computationally tractable stochastic equilibrium model of unemployment in heterogeneous … countercyclical unemployment, and is simultaneously consistent with procyclical reallocation, countercyclical separations and a … negatively-sloped Beveridge curve. Moreover, the model exhibits unemployment duration dependence, which (when calibrated to long …

In recessions, unemployment increases despite the - perhaps counterintuitive - fact that the number of unemployed … workers finding jobs expands. On net, unemployment rises only because even more workers lose their jobs. We propose a theory … of unemployment fluctuations resting on this countercyclicality of gross flows from unemployment into employment. In …