evidence of large heterogeneities among demographic groups. Interestingly, unemployment rates in levels across demographic … groups are not necessarily aligned with the sensitivity of these demographic groups’ (un)employment and participation rates …

labor input, but it predicts a strong counterfactually negative long run relationship between inflation and unemployment … negative long run relationship between trend inflation and unemployment provides indirect evidence against the proposed …

, sector division, unemployment and welfare. …

Wages are only mildly cyclical, implying that shocks to labour demand have a larger short-run impact on unemployment …

, greater average firm productivity, a larger formal employment share, and a marginally lower unemployment rate. …

the unemployment rate. I show that a simple frictionless business cycle model with heterogeneity and a simple form of on … employment growth. Worker flows are related to both employment growth and the unemployment rate, and quits and hires are …-the-job search, and quits beget hires to replace quitters. High unemployment crowds out quits, shortens the hiring chain, reduces the …