Unemployment arises from frictions in the matching of job-seekers and employers. The level of resources that employers … devote to evaluating applicants for jobs is a key factor in the magnitude of the frictions. Unemployment will be low if …-selection by job-seekers, so that they apply mainly for jobs where they are qualified, friction and thus unemployment will be low …

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

of theory. Amongst the counterfactual implications are very low volatility of tightness, procyclical unemployment, and a …

One of the strongest trends in recent macroeconomic modeling of labor market fluctuations is to treat unemployment … Unemployment," 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 replicate and extend …

outside labor market, including especially unemployment, may be irrelevant. The job-seeker's threat point in the bargain is to … otherwise adopts all of the features of the standard Mortensen-Pissarides model, unemployment is much more sensitive to changes …

A synthesis of the Lucas-Prescott island model and the Mortensen- Pissarides matching model of unemployment is studied … observed averages of U.S. unemployment and vacancy rates, the model fits the observed vacancy-unemployment Beveridge … relationship very well and implies an implicit log linear relationship between the job finding rate and the vacancy-unemployment …

also a downward rigid wage for new hires. The downward rigidity in the hiring wage magnifies the response of unemployment …

, and price and wage rigidities. Regulation affects producer entry costs, employment protection, and unemployment benefits …

The persistence of U.S. unemployment has risen with each of the last three recessions, raising the specter that future … shocks do not systematically lead to more persistent unemployment than monetary policy shocks, so these cannot explain the … rising persistence of unemployment. Second, monetary and fiscal policies can account for only part of the evolving …