In this article, we investigate the role of several types of educational mismatch in explaining labour market transitions of workers with secondary and higher education. We focus on transitions from employment to unemployment and on job changes, to assess whether mismatch is a temporary or a...

The contribution of this paper is to offer a rationale for the observed seasonal pattern in house prices. We first document seasonality in house prices for the US and the UK using formal statistical tests and illustrate its quantitative importance. In the second part of the paper we employ a...

Employers who use temporary agency staff in contrast to regular staff are not affected byemployment protection regulations when terminating a job. Therefore, services providedby temporary work agencies may be seen as a substitute for regular employment. In thispaper, we analyze the effects of...

Labor market studies on the effects of minimum wages are typically confined to the sector or worker group directly affected. We present a two-sector search model in which one sector is more productive than the other one and thus, pays higher wages. In such a framework, setting a minimum wage in...

We demonstrate the possibility of indeterminacy and non-existence of equilibrium dynamics in a standard business cycle model with search and matching frictions in the labor market. Our results arise for empirically plausible parametrizations and do not rely upon a mechanism such as increasing...

In a New Keynesian DSGE model with labor market frictions and liquidityconstrained consumers aggregate unemployment is likely to increase due to a non-persistent government spending shock. Furthermore, the group of asset-holding households reacts very differently from the group of...

Since the so-called Hartz IV reforms around 2005 and during the global crisis of 2008/2009, the German labor market featured mainly declining unemployment rates. We develop a search and matching model with heterogeneous skills to explore the role of structural and cyclical policies for this...

Using newly digitized unemployment insurance claims data we construct a historical monthly unemployment series for U.S. states going back to January 1947. The constructed series are highly correlated with the Bureau of Labor Statics' state-level unemployment data, which are only available from...

This paper examines how economic insecurity and cultural anxiety have triggered different dimensions of the current populism in the United States. Specifically, I exploit two quasi-natural experiments, the Great Recession and the 2014 Northern Triangle immigrant in ux, to investigate the effects...

We reassess the role of vacancies in a Diamond-Mortensen-Pissarides style search and matching model. In the absence of free entry long lived vacancies and endogenous separations give rise to a vacancy depletion channel which we identify via joint unemployment and vacancy dynamics. We show...