unemployment in Japan. The question is to what extent business ownership, i.e., entrepreneurship, can reduce the level of … unemployment. It will be concluded that Japan is hardly an outlier when using a simple model of the relationship between … unemployment and the rate of business ownership. The model is calibrated using recent data of 23 OECD countries. It shows a minor …

. This model yields a simple relationshipbetween (i) the unemployment rate, (ii) the value of non-market time, and (iii … andallow for measurement error. The estimated wage dispersion and mismatch for theUS is consistent with an unemployment rate of …

decreasing in the substitutability of worker types. This cost of search is then decomposed into three components: unemployment … workers being more choosy. The resulting equilibrium is not efficient. Unemployment benefits can reduce the loss by serving as …