One of the strongest trends in recent macroeconomic modeling of labor market fluctuations is to treat unemployment … of Unemployment,quot; i.e., the extent to which increased unemployment during a recession arises from an increase in the … number of unemployment spells versus an increase in their duration. After broadly reviewing the previous literature, we …

-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 …

a burst of layoffs. Unemployment rises because jobs are hard to find, not because an unusual number of people are thrown … into unemployment …

monetary model in which: i) the unemployed are worse o§ than the employed, i.e. unemployment is involuntary and ii) the labor … technology shocks. In addition, the model does well at accounting for the response of the labor force and unemployment rate to …

unemployment benefits …

The flow opportunity cost of moving from unemployment to employment consists of foregone public benefits and the … is procyclical and volatile over the business cycle. The estimated cyclicality implies far less unemployment volatility …

New data compel a new view of events in the labor market during a recession. Unemployment rises almost entirely because … finding from new data is that a large fraction of workers departing jobs move to new jobs without intervening unemployment. I …

This paper explains upward job mobility and observed patterns of unemployment by skill as an economy recovers from a … recession. Skilled unemployment is due to rational waiting by workers looking for long-term jobs when there is a "lock …

understand in a recession is the sharp decline in employment and jump in unemployment. This chapter for the Handbook of … frictionless models fail completely to describe unemployment. The evidence suggests strongly that consideration of unemployment as … a third use of time is critical for a realistic model. The two elements of a theory of unemployment are a mechanism for …