The distribution of unemployment duration in our equilibrium matching model with spell-dependent unemployment benefits displays a time-varying exit rate. Building on Semi-Markov processes, we translate these exit rates into an expression for the aggregate unemployment rate. Structural estimation...

We use the synthetic control method to analyze the effect of face masks on the spread of Covid‐19 in Germany. Our identification approach exploits regional variation in the point in time when wearing of face masks became mandatory in public transport and sales shops. Depending on the region we...