Standard macroeconomic models underpredict the volatility of unemployment fluctuations. A common solution is to assume … jobs. This form of wage rigidity does not affect job creation and thus cannot explain the unemployment volatility puzzle …

unemployment rates. To this end, we develop a matching model à la Pissarides (2000) in which homeowners are assumed to be less …

This paper analyzes the strikingly different response of unemployment to the Great Recession in France and Spain. Their … labor market institutions are similar and their unemployment rates just before the crisis were both around 8%. Yet, in … France, unemployment rate has increased by 2 percentage points, whereas in Spain it has shot up to 19% by the end of 2009. We …

that households with a participating wife are better able to deal with unemployment of the husband. A supplementary … sensitive to his own unemployment income if the wife is nonparticipating. This implies that unemployment benefits have a …

employment, unemployment and inactivity, from several angles. I examine aggregate conditional transition probabilities, job … contributions of job-finding and job-separation rates to fluctuations in the unemployment rate. Over the past cycle, the job …

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