A search and matching model, when calibrated to the mean and volatility of unemployment in the postwar sample, can … potentially explain the large unemployment dynamics in the Great Depression. The limited response of wages to labor market … conditions from credible bargaining and the congestion externality from matching frictions cause the unemployment rate to rise …

This paper analyses job seekers' perceptions and their relationship to unemployment outcomes to study heterogeneity and …, accounting for most of the observed decline in job finding rates over the spell of unemployment. We also find that job seekers … calibrated model of job search how these biased beliefs contribute to the slow exit out of unemployment and can explain more than …

forces. A new private sector quickly emerged and has taken hold. Unemployment, which did not exist, is high and still … increasing. Will this process of transition accelerate, or slow down? Will unemployment keep increasing? Can things go wrong and … as important. The first is the interactions between unemployment and the decisions of both state and private firms. The …

unemployment by lowering the aggregate job-finding rate. We use this framework to measure the contribution of mismatch to the … recent rise in U.S. unemployment by exploiting two sources of cross-sectional data on vacancies, JOLTS and HWOL, a new …/3 of the total observed increase in the unemployment rate, whereas geographical mismatch plays no apparent role. The share …

sharp increase in the incidence of long-term unemployment (LTU) during the Great Recession. We first show that compositional … shifts in demographics, occupation, industry, region, and the reason for unemployment jointly account for very little of the … model that allows for duration dependence in the exit rate from unemployment and for transitions between employment (E …

accessibility to appropriate jobs should shorten the duration of unemployment. We focus on lower-income workers with strong labor …

equivalent workers fall sharply as unemployment duration progresses. We use the model to quantitatively assess the consequences … of such employer behavior for job finding rates and long term unemployment and find only modest effects given the large … dependence and long term unemployment …

-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 …