Unemployment may depend on equilibrium in other markets than the labor markets. This paper adresses this old idea by … introducing search frictions on several markets: in a model of credit and labor market imperfections as in Wasmer and Weil (2004 …

labor market in which workers? location in an agglomeration depends on commuting costs, the endogenous price of land and the … land and labor markets are solved for simultaneously. We then compare this decentralized equilibrium to a social planner … interaction between land and labor markets, and decompose the equilibrium unemployment rate into two parts: a pure non-spatial one …

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 …