cycle dynamics of separation and job finding rates and to quantify their contributions to overall unemployment variability …. Cyclical changes in the separation rate lead those of unemployment, while the job finding rate and unemployment move … contemporaneously. Fluctuations in the separation rate explain between 40 and 50 percent of fluctuations in unemployment, depending on …

the business cycle features of job flows, worker flows between employment and unemployment, and job-to-job transitions …. The calibrated model successfully replicates (i) countercyclical worker flows between employment and unemployment, (ii …. The cyclical properties of worker flows between employment and unemployment differ from those of job flows, partly because …

vacancies but also those of gross job losses and hires and thereby the stock of unemployment in one unified framework. The …

worker flows and job flow simultaneously. In particular, the model correctly predicts that hires from unemployment move … flow that does not go through unemployment but is part of job creation, for which pro-cyclicality of the job finding rate … dominates its cyclicality. The authors also show that the model generates large volatilities of unemployment and vacancies when …

cyclicality of labor market transition rates between employment, unemployment, and nonparticipation. When interpreted through the …