percent increase in the statelevel effective minimum wage reduces vacancies by 2.4 percent in the same quarter, and the … cumulative effect is as large as 4.5 percent a year later. The negative effect on vacancies is more pronounced for occupations …. We argue that our focus on vacancies versus on employment has a distinct advantage of highlighting a mechanism through …

volatility extends beyond the U.S. to a set of OECD countries. That is, the volatility puzzle is ubiquitous. We argue cross … proposed in Hagedorn and Manovskii (2008) continues to deliver counterfactually low volatility in countries where labor … enough volatility depends on vacancy-filling rate levels that seem counterfactual outside the U.S. …

process and labor markets are characterized by search and matching frictions. Entrants post vacancies and are matched to idle … cross-correlations of both shares and the higher volatility of the share of profits. Regarding propagation and amplification …, the model matches the persistence of vacancy creation and two-thirds of the observed volatility of market tightness …

volatility of vacancies and unemployment. This channel can be relevant if the lack of insurance is large enough so that the … increases are enough for poor workers to accept job offers. This mechanism reduces the volatility of wages and increases the …