participation. A model that is calibrated to replicate the variability of unemployment and participation, and the negative … correlation of unemployment and GDP, implies an aggregate labor supply elasticity along the extensive margin of around 0.3 for men …

Existing models of equilibrium unemployment with endogenous labor market participation are complex, generate … procyclical unemployment rates and cannot match unemployment variability relative to GDP. We embed endogenous participation in a … variabilities but also generates strongly countercyclical unemployment rates. With some wage rigidity the model also matches …

This paper considers the issue of unemployment one of the most pressing issues facing the UK and other governments, as … unemployment among the young and other disadvantaged groups, is typical of past experience. The paper reviews past literature on … the causes of unemployment, arguing that the origin of the present difficulties lies with a collapse in demand rather than …

Standard macroeconomic models underpredict the volatility of unemployment fluctuations. A common solution is to assume … jobs. This form of wage rigidity does not affect job creation and thus cannot explain the unemployment volatility puzzle …

joint unemployment and vacancy dynamics. We show conditions for constrained efficiency and discuss important implications of …

and effects of youth unemployment using micro-data. It argues that there is convincing evidence that the young are … particularly susceptible to the negative effects of spells of unemployment well after their initial experience of worklessness …. Because the current youth cohort is relatively large, the longer-term outlook for youth unemployment is quite good, but there …

-24 have suffered disproportionately during the recession. Using the USA and UK as case studies, we analyse youth unemployment … using microdata. We argue that there is convincing evidence that the effects of unemployment when young impose costs on … individuals and society well into the future. Though the effects of current policies on youth unemployment are uncertain, there is …

effect of product market competition on unemployment rates, being substantial under collective bargaining and considerably … to a substantial increase in equilibrium unemployment rates from 5.5% to 8.9 % in the model economy. -- product market … competition ; European Unemployment Puzzle ; overhiring ; wage bargaining …

We consider the dynamic relationship between product market entry regulation and equilibrium unemployment. The main … bargaining. Product market competition affects unemployment by two channels: the output expansion effect and a countervailing … perform a policy experiment to assess whether the decrease in trend unemployment during the 1980's and 1990's could be …

, but sustainable, recovery. Improvement in the labor market may take some time, but many believe that unemployment will … consequences for unemployment may be worse than anticipated. -- Unemployment ; youth …