interact and affect the evolution of unemployment rates and participation rates, the two main indicators of labour market … performance. Our analysis has two special features. First, apart from the two labour market states – employment and unemployment … that a shock to the net flow from unemployment to employment drive the unemployment rate and the participation rate in …

disaggregate unemployment and in the cross-sectional differences across individuals of the duration of unemployment spells. The …-space model of Ahn and Hamilton (2016). I found that the contribution of each factor to the dynamics of disaggregate unemployment …

This paper discusses various concepts of unemployment rate benchmarks that are frequently used by policymakers for … particular, we propose two broad categories of unemployment rate benchmarks: (1) a longer-run unemployment rate expected to … prevail after adjusting to business cycle shocks and (2) a stable-price unemployment rate tied to inflationary pressures. We …

This paper presents a framework to interpret movements in the Beveridge curve and analyze unemployment fluctuations. We … decompose the unemployment rate into three main components: (1) a component driven by changes in labor demand – movements along … driven by changes in the efficiency of matching unemployed workers to jobs. We find that cyclical movements in 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 …

unemployment. Using a standard model, we show that three factors can shift the Beveridge curve: reduced-form matching efficiency … shift in vacancies given unemployment. In previous recessions changes in matching efficiency were relatively unimportant … analyses estimating the natural rate of unemployment …

unemployment, even after controlling for the endogeneity of court activity. The results have potentially important policy …

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