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 …

increasing unemployment transfers is partially offset by a partner's lower unemployment and wages …

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 …

workers return to their previous employer after a jobless spell and experience very different unemployment and employment …

market outcomes than job switchers. Over 40% of all workers separating into unemployment regain employment at their previous … temporary layoff. Recalls are associated with much shorter unemployment duration and better wage changes. Negative duration … dependence of unemployment nearly disappears once recalls are excluded. We also find that the probability of finding a new job is …

market states, the unemployment rate, and the labor force participation rate, while using values of elasticities consistent …

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 …

Using survey data from the Panel Study of Income Dynamics, we document descriptively that unemployment has a relatively … percentage points larger than those of the employed; and when endogeneity is additionally accounted for, the unemployment effect … on default rates declines to 3 percentage points. Moreover, we find that more granular metrics for unemployment entail …

In the U.S. labor market, the vacancy-unemployment ratio and employment react sluggishly to productivity shocks. The …