This paper provides a critique of the "unemployment invariance hypothesis", according to which the behavior of the … labor market ensures that the long-run unemployment rate is independent of the size of the capital stock, productivity, and … equilibrating mechanisms to ensure unemployment invariance and that other markets may perform part of the equilibrating process as …

wages. A one-point increase in the unemployment rate decreases wages of newly hired male workers by around 2.8% and by just …

To better understand unemployment dynamics it is key to assess the role played by job creation and job destruction …. Although the U.S. case has been studied extensively, the importance of job finding and employment exit rates to unemployment … finding and job separation rates for the U.S. unemployment rate dynamics. Drawing on this approach, we are able to reconcile …

empirical regularities that the conventional matching model cannot. -- Matching ; incentives ; adjustment costs ; unemployment …

the closing of existing firms, to the dramatic decline of total employment and increase of the unemployment rate. We also …