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model capture the possible shifts in the three conditions determining labor market equilibrium in any matching models … a shock to the efficiency of the matching process (search shock). The two former shocks generate a quite balanced …
Persistent link: https://www.econbiz.de/10013045048
Since the last recession, it is usually argued that older workers are less affected by the economic downturn because their unemployment rate rose less than the one of prime-age workers. This view is a myth: older workers are more sensitive to the business cycle. We document volatilities of...
Persistent link: https://www.econbiz.de/10013055568
As a preliminary step, we first provide some new empirical evidence that labor market conditions affect retirement decisions at the individual level: unemployed people are more likely to retire. Our main objective in this paper is then to propose an equilibrium unemployment approach to...
Persistent link: https://www.econbiz.de/10013106958