frictions and unemployment insurance, when the latter is only imperfectly related to search effort. A balanced social insurance … volatility and persistence of vacancies and unemployment. …

additional leisure and personal maintenance, not in increased household production. There is no relation between unemployment … lower amount of market work in areas of long-term high unemployment is offset by additional household production. In … contrast, in those areas where unemployment has risen cyclically reduced market work is made up almost entirely by additional …