Licensed workers could be shielded from unemployment during recession since occupational licensing laws are asymmetric …-in-differences event study research design that exploits cross-state variation in licensing laws to compare the unemployment rate between …, we find that licensing shields workers from a recession-induced increase in the unemployment rate of 0.82 p.p. during …

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 …

This paper shows empirically that the non-employment effects of unemployment insurance (UI) for older workers depend in … difficult-to-explain trends in the unemployment rate of older German workers …

We introduce dynamic incentive contracts into a model of unemployment dynamics and present three results. First, wage … cyclicality from incentives does not dampen unemployment dynamics: the response of unemployment to shocks is first … cyclicality from bargaining dampens unemployment dynamics through the standard mechanism. Third, our calibrated model suggests 46 …

This study documents how job seekers update perceived job-finding prospects by unemployment duration and by learning … about aggregate unemployment. We find that job seekers perceive an 18% decline in their job-finding probability for each … additional month of unemployment, but perceive a higher job-finding probability when the aggregate unemployment rate is …

Principal-agent models take outside options, determining participation and incentive constraints, as given. We …, that frictions (sand-in-the-wheels) may decrease unemployment and that the equilibrium is determined by two simple …, embedding all the binding constraints (e.g., the no-shirking and labor market participation constraints). We also show that …

We systematically review studies of how unemployment benefits affect unemployment duration. Statistically significant …

This paper studies the predictability of long-term unemployment (LTU) and analyzes its main determinants using rich … unemployed. Applying our prediction algorithm over the unemployment spell, we show that dynamic selection into LTU explains at …. Finally, we evaluate the implications of our findings for the value of targeting unemployment policies and how these change …

How has the internet affected search and hiring, and what are the implications for aggregate unemployment? Answering … indicate that the steady-state unemployment rate fell by as much as 14% due to the broadband internet expansion …