marked differences in unemployment flows …

unemployment over the last three decades. We find that while macroeconomic and demographic shocks and changing labor market … important factor explaining the shift in US relative unemployment. Our finding of the central importance of these interactions … relative unemployment has fallen in recent years in part because its more flexible labor market institutions allow shocks to …

allows us to control for unmeasured country-specific factors that affect relative employment and unemployment, we find that … of young and older individuals relative to the prime-aged, with no significant effects on the relative unemployment of … raises female unemployment relative to male unemployment. These results suggest that union wage-setting policies price the …