We design and field an innovative survey of unemployment insurance (UI) recipients that yields new insights about wage … efficient separations that holds in leading theories of job separations, frictional unemployment, and job ladders. We draw on …

, that frictions (sand-in-the-wheels) may decrease unemployment and that the equilibrium is determined by two simple …

employment is the efficient unemployment rate, u*. We define u* as the unemployment rate that minimizes the nonproductive use of …). Accordingly, the efficient unemployment rate is the geometric average of the unemployment and vacancy rates: u* = √uv. We compute …

, (ii) volatile and procyclical skewness, (iii) very high kurtosis, and (iv) a moderate rise in cross-sectional inequality …

range of micro statistics on income inequality, dynamics, and mobility. It has four key characteristics: it is built on …; it offers granular descriptions of income inequality and income dynamics for finely defined subpopulations; and it is … and presents a set of global trends in income inequality and income dynamics across the 13 countries that are currently in …

--incorporating monopsony power, minimum wages, and unemployment. I estimate the extended canonical model using national data and, separately …