This paper reviews the empirical research that has been generated by Oswald’s thesis, which claims that there is a causal relationship from homeownership to unemployment. The literature confirms a decreasing effect of homeownership on geographical mobility of workers, but does not in general...

We study optimal government spending in a business cycle model with frictional unemployment. The Ramsey optimal policy is contrasted with a reference policy which would be first best in a frictionless economy. Results are: the Ramsey policy i) implies a higher steady state ratio of government...

In this paper we determine the feasibility of using data from thePanel Study of Income Dynamics to estimate the Burdett-Mortensengeneral equilibrium search model. The data contain sufficientinformation on wages, labor force states, durations, and transitionsto generate estimates of the model's...