labor market states. In steady-state, we hence have a theory of equilibrium unemployment determined by both matching … labor force and rises the share of attached workers. Finally, our theory suggests that contrary to two-state models … frictions and labor market participation margins. The paper firstly rationalizes and quantitatively accounts for the existence …

In the last decades, the OECD labor markets faced important labor supply changes with the arrival of women and the … composition of the labor force, between-groups wage inequality and the level of unemployment. The main result is that a labor … market with wage rigidities may not recover from such a temporary labor supply shock: with a younger and less experienced …