The negative and stable relationship between an economy’s aggregate demand conditions and overall unemployment is well …-documented. We show that there is a large degree of heterogeneity in the cyclical sensitivities of unemployment across worker and … economy groups. First, unemployment is more than twice as sensitive to aggregate demand in advanced as in emerging market and …

evidence of large heterogeneities among demographic groups. Interestingly, unemployment rates in levels across demographic … groups are not necessarily aligned with the sensitivity of these demographic groups’ (un)employment and participation rates …

the Beveridge curve in Austria. We find empirical evidence to confirm that the increase in the unemployment rate in …

Wages are only mildly cyclical, implying that shocks to labour demand have a larger short-run impact on unemployment …

externalities and equilibrium unemployment. Our model incorporates endogenous labor force participation and two margins of … consumption and output; a marginal increase in the unemployment and labor force participation rates; and an expansion in the … accompanied by gradual gains in output and consumption and a negligible expansion in unemployment. Critically, abstracting from …

unemployment and maximum employment approaches; and the unfilled vacancies perspective. Furthermore, we provide and discuss …

, greater average firm productivity, a larger formal employment share, and a marginally lower unemployment rate. …