large sector-specific shocks. However, the latter shows much less labor reallocation because ERTEs were available to firms …. We show that ERTEs stabilize unemployment rates by allowing workers to remain with their employers in highly affected … sectors. However, they crowd-out labor hoarding of employers, increase the volatility of the rate of people working and …

the unskilled. By contrast, in Europe it is undoubtedly the rise and persistence of unemployment. Technology has been … identified as a key reason for the rising US wage inequality, while labor market rigidities are often cited as a key reason for … European unemployment. This paper seeks to provide a unified account of these major factor market developments. It models the …

We revisit the hypothesis that cyclical fluctuations in unemployment are caused by shocks to the discount rate. We use … a rich search-theoretic model of the labor market in which the UE, EU and EE rates are all endogenous. Analytically, we … in the EU rate. The response of the unemployment rate is minuscule. These findings are at odds with the actual behavior …

employment level. Immigrants, being new to the labor market, may be less aware of employment protection regulations and less …

the estimates of the impact of labour demand shocks on participation. For men, unemployment increased in response to …

This paper studies the mechanisms driving the persistently high unemployment rate during the last recession and mild …, we propose a methodology to decompose changes in the unemployment rate into worker inflows and outflows across industry …

density function with higher density and thereby generate large, asymmetric job-finding rate and unemployment reactions. Our …

This paper assesses the impact that the 2009 Great Recession had on individual's transitions to and from unemployment … in Ireland. The rate of transition from unemployment to employment declined between 2006 and 2011, while the rate from … employment to unemployment increased. The impact of some of the factors identified as contributing to the likelihood of a …

This paper analyzes how the labor market adjusts to the Great Recession. To this aim, we use the data for Latvia, a … estimate worker transitions between labor market states. Labor market adjustment takes place predominantly at the extensive … margin since it is driven by flows from permanent wage employment to unemployment. We also show that older, non-Latvian and …

modest increase in unemployment. Despite these forces, we conclude that the problems facing the U.S. labor market are …From the perspective of a wide range of labor market outcomes, the recession that began in 2007 represents the deepest … downturn in the postwar era. Early on, the nature of labor market adjustment displayed a notable resemblance to that observed …