-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 …

frequently mismatched in their employment, and firms create jobs to take advantage of this mismatch. Data on gross job creation …This paper estimates the response of the unemployment rate and labor force participation rate to exogenous variation in … variable. A one percent increase in the youth share reduces the unemployment rate of young workers by more than one percent …

frequently mismatched in their employment, and firms create jobs to take advantage of this mismatch. Data on gross job creation …This paper estimates the response of the unemployment rate and labor force participation rate to exogenous variation in … variable. A one percent increase in the youth share reduces the unemployment rate of young workers by more than one percent …

We develop a dynamic model of transitions in and out of employment. A worker finds a job at an optimal stopping time …, when a Brownian motion with drift hits a barrier. This implies that the duration of each worker's jobless spells has an …

This paper accounts for the observed increase in unemployment duration relative to the unemployment rate in the U ….S. over the past thirty years, typified by the record low level of short-term unemployment. We show that part of the increase … remaining increase in unemployment duration relative to the unemployment rate is concentrated among women, whose unemployment …