higher wages. This increases firms' incentives to post more vacancies, which makes unemployment volatile and sensitive to … aggregate shocks. The model is robust to two major criticisms of existing theories of sluggish wages and volatile unemployment … explains 70% of unemployment volatility …

internalize how their individual actions affect the labor market outcomes of competitors in a common unemployment pool. We provide …

During the Great Recession of 2007, unemployment reached nearly 10 percent and the ratio of unemployment to open … extension in the length of time in which a claimant can collect unemployment insurance (UI) to 99 weeks, at an expense to date … search process. Parameter estimates of the structural model using a sample of unemployment spells from the National …