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 …

This paper develops a rational expectations model with multiple equilibrium unemployment rates where the price of … a permanent reduction in wealth and consumption and a permanent increase in the unemployment rate. My work suggests that …

-for-dollar, while European unemployment rises one-for-one. We consider a stylized game of the choice of factor market institutions … autarky to free trade doubles the European unemployment rate, while it raises the American unskilled wage to the high European … level. Entry of the unskilled South to world markets raises unemployment in Europe. But Europe's commitment to the high wage …

-market recovery from financial crises is characterized by either higher unemployment ("jobless recovery") or a lower real wage …

This paper provides quasi-experimental estimates of the causal effect of long-term unemployment on wages. Using … standard job search theory, the paper derives and tests conditions on reemployment wages under which Unemployment Insurance (UI …) extensions can be used as instrumental variables (IV) for unemployment duration. Using a regression discontinuity design, the …

labor markets. We find that workers age 62 to 69 are responsive to the unemployment rate and to long-run fluctuations in … the rising unemployment rate will be almost 50 percent larger than the decrease in retirement brought about by the stock …

welfare. This insight leads to a novel test for the optimality of unemployment insurance based on the responsiveness of … reservation wages to unemployment benefits. Some existing estimates imply significant gains to raising the current level of … unemployment benefits in the United States, but highlight the need for more research on the determinants of reservation wages. Our …