In the past decades several features of U.S. unemployment dynamics have been investigated empirically. The original … focus of research was on the duration of unemployment. In later studies the cyclicality of incidence and duration …, compositional effects and duration dependence of the exit rate out of unemployment have been investigated. Unlike the partial …

. This model yields a simple relationshipbetween (i) the unemployment rate, (ii) the value of non-market time, and (iii … andallow for measurement error. The estimated wage dispersion and mismatch for theUS is consistent with an unemployment rate of …

We analyse the determinants of unemployment persistence in four OECDcountries byestimating a structural Bayesian VAR … with an informative priorbased on an insiders/outsiders model. We explicitly insert unemployment ben-efits and labour taxes … shocks play adominant role in explaining unemployment also in the medium-run. Moreoverreal wages have low sensitivity to …

Since the end of the Great Recession in mid-2009, the unemployment rate has recovered slowly, falling by only one … weakness has led to the highest level of long-term unemployment in the U.S. in the postwar period, and a blurring of the … distinction between unemployment and nonparticipation. We show that flows from nonparticipation to unemployment are important for …

Ineffective institutions increase transaction costs and reduce trade. This paper shows that differences in the … effectiveness of institutions offer an explanation for the tendency of OECD countries to trade disproportionately with each other …