We build an analytically and computationally tractable stochastic equilibrium model of unemployment in heterogeneous … countercyclical unemployment, and is simultaneously consistent with procyclical reallocation, countercyclical separations and a … negatively-sloped Beveridge curve. Moreover, the model exhibits unemployment duration dependence, which (when calibrated to long …

unemployment and its duration distribution. Using the SIPP, we document the relation between workers' (gross and net) occupational … mobility and unemployment duration over the long run and business cycle. To interpret this evidence, we develop an analytically … countercyclical net occupational mobility, the large volatility of unemployment and the cyclical properties of the unemployment …

We build an analytically and computationally tractable stochastic equilibrium model of unemployment in heterogeneous … countercyclical unemployment, and is simultaneously consistent with procyclical reallocation, countercyclical separations and a … negatively-sloped Beveridge curve. Moreover, the model exhibits unemployment duration dependence, which (when calibrated to long …

provides a theory of job-to-job transitions that are associated with voluntary or involuntary mobility and with wage rises or …

quit flows [churning] by workers across firms, as well as the persistence and volatility of unemployment and worker job …

. The aim of the paper is to analyse the transitional dynamics of unemployment and vacancies when financial constraints are … describes the transition path of unemployment and vacancies to their steady state values. We show that the transition path … downward sloping. This implies unemployment and vacancies adjust in opposite directions as observed in the data. When …