. Young workers, on average asset poor, face larger labor-market uncertainty because of high unemployment risk and imperfect …-cycle model with age-dependent unemployment risk and gradual learning about the income profile that can address all three puzzles … knowledge about their earnings ability. This labor-market uncertainty prevents them from taking too much risk in the financial …

unemployment exit rates for the U.S. labor market. We construct a simple model of heterogeneous unemployment with short-term and …Shimer (2012) accounts for the volatility of unemployment based on a model of homogeneous unemployment. Using data on … short-term unemployment he finds that most of unemployment volatility is accounted for by variations in the exit rate from …

We develop a business cycle model with search and matching frictions in the labor market and show that on …. In our calibration, this allows the model to generate fluctuations of unemployment, vacancies, and job-to-job transitions …

Standard search and matching models of equilibrium unemployment, once properly calibrated, can generate only a small … obtained in closed form as a function of observable variables (i.e., interest rate, value of leisure, and statistics of labor …

We examine how technological change affects wage inequality and unemployment in a calibrated model of matching … frictions in the labor market. We distinguish between two polar cases studied in the literature: a "creative destruction … that, in the model calibrated to the U.S. economy, both unemployment and vacancy durations are very short, i.e., the …

We construct a simple general equilibrium model of unemployment and calibrate it to the Canadian economy. Job creation …-run increase in the Canadian unemployment rate: a more generous unemployment insurance system, higher layoff costs, higher … on the unemployment rate is small …

mismatch in the labor market. The argument is that despite the high unemployment rate the effective pool of job seekers is … unemployment despite an uptick in economic activity and an increased willingness by firms to hire. This has stimulated a debate on … considerably smaller due to adverse effects of long-term unemployment, high unemployment benefits or structural change. Despite …

We estimate trends in the labor force participation (LFP) and unemployment rates for demographic groups differentiated … group trends, we construct trends for the aggregate LFP and unemployment rate. Important drivers of the aggregate LFP rate … population becoming more important since 2000, and changes of groups' trend LFP rates, e.g., for women prior to 2000. The …