links both the cyclical fluctuations and the mean level of unemployment to the aggregate business cycle risk. The key result … of the paper is that business cycles are costly for all consumers, regardless of their wealth, yet that unemployment … fluctuations themselves are not the source of these costs. Rather fluctuations over the cycle induce higher average unemployment …

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 …

Using the monthly CPS, the author estimates unemployment-to-employment (UE) transition rates and unemployment …-to-inactivity (UN) transition rates by unemployment duration for male workers. When estimated for the period of 2004-2007, during which … that the benefit extensions in recent years have raised male workers' unemployment rate by 0.9-1.7 percentage points …

for only a small portion of the fluctuations in unemployment and vacancies (Shimer (2005a)). In this paper, the author … vintages of entrants are able to account for fluctuations in unemployment and vacancies and that, in this environment, specific …

unemployment over the business cycle, it implies a far too strong rise of the unemployment rate when unemployment benefits rise … of unemployment but at the same time implies a reasonable elasticity of unemployment with respect to benefits …

reservation wages and unemployment are increasing in total wealth. And, second, we show that reservation wages and unemployment … and increases unemployment. We estimate our model structurally using National Longitudinal Survey of Youth data from 1978 …

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 …