quantitative effects of (i) aggregate productivity shocks on unemployment and (ii) unemployment benefits on unemployment. This … model, unemployment benefits affect households' behavior directly, without having to run via the bargained wage. A … effect of benefits on unemployment. Our analysis shows the importance of investigating the effects of policies on the …

density function with higher density and thereby generate large, asymmetric job-finding rate and unemployment reactions. Our …

tightness. Our model explains a large fraction of the matching efficiency decline during the Great Recession and generates state …

This paper analyzes Germany's unusual labor market experience during the Great Recession. We estimate a general … driver for the "German labor market miracle" during the Great Recession. …