, directly from employer to employer as well as indirectly via an unemployment spell. In addition they are more likely to change …

This article is an idiosyncratic survey of the insider-outsider theory, describing the vision underlying the theory … been dead-ends and red herrings in past research. The first section deals with the theory, concerning how labor turnover … costs influence insider wages and outsiders? opportunities and how these costs affect employment and unemployment. We also …

the financial market, we address two prominent mechanism through which firms' financial constraints amplify unemployment … substantial decline in both unemployment and wages. Financial constraints therefore weaken the direct link between wage rigidity … and unemployment volatility. …

This article is an idiosyncratic survey of the insider-outsider theory, describing the vision underlying the theory … been dead-ends and red herrings in past research. The first section deals with the theory, concerning how labor turnover … costs influence insider wages and outsiders’ opportunities and how these costs affect employment and unemployment. We also …

% for a 1 pp decline in the unemployment rate. For large recessions, like the Great Recession, that implies a decline in the …

, directly from employer to employer as well as indirectly via an unemployment spell. In addition they are more likely to change …