density function with higher density and thereby generate large, asymmetric job-finding rate and unemployment reactions. Our …

This paper provides new estimates of Okun’s unemployment-output relationship in euro area countries between 1979 and … characterise the literature and that the responsiveness of output to unemployment is driven by idiosyncratic factors in both euro …

unemployment and its duration distribution. Using the SIPP, we document the relation between workers' (gross and net) occupational … mobility and unemployment duration over the long run and business cycle. To interpret this evidence, we develop an analytically … countercyclical net occupational mobility, the large volatility of unemployment and the cyclical properties of the unemployment …

unemployment is high. Using monthly panel data for local labour markets in Sweden we find no (or only weak) evidence that high … unemployment makes it easier to fill vacancies. Instead, there are few vacancies when unemployment is high because there is a low … cyclical behaviour of stocks and flows in the labour market also without search frictions. In periods of high unemployment …

In recessions, unemployment increases despite the—perhaps counterintuitive—fact that thenumber of unemployed workers … finding jobs expands. On net, unemployment rises only becauseeven more workers lose their jobs. We propose a theory of … unemployment fluctuations resting onthis countercyclicality of gross flows from unemployment into employment. In recessions …

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