-market recovery from financial crises is characterized by either higher unemployment ("jobless recovery") or a lower real wage … ("wageless recovery"). Second, inflation determines the type of recovery: low inflation (below 30 percent annual rate) is … associated with jobless recovery, while high inflation is associated with wageless recovery. The paper shows that this pattern of …

and Sweden). We conduct inference with mixed frequency data, combining quarterly series for unemployment, vacancies, GDP …, consumption, and investment, with annual data on unemployment flows. Parameters and shocks are estimated separately for each … country, which can then vary in terms of search and hiring costs, workers' bargaining power, unemployment benefits levels …

The Great Recession tested the ability of the "great U.S. jobs machine" to limit the severity of unemployment in a … live up to expectations. The level and duration of unemployment increased substantially in the downturn and the growth of …

claims on business income also rise. According to the leading view of unemployment-the Diamond-Mortensen-Pissarides model …-when the incentive for job creation falls, the labor market slackens and unemployment rises. Employers recover their … when the discount rate rises. Thus high discount rates imply high unemployment. This paper does not explain why the …

-cycle-frequency fluctuations in unemployment and job vacancies in response to shocks of a plausible magnitude. In the U.S., the vacancy-unemployment … vacancy-unemployment ratio and labor productivity have nearly the same variance. I establish this claim both using analytical … small movement along a downward sloping Beveridge curve (unemployment-vacancy locus). A shock to the job destruction rate …