Standard search and matching models of equilibrium unemployment, once properly calibrated, can generate only a small … of the model (risk aversion, volatile wages during employment, and on-the-job search) and find that, in their simplest …

for our preferred measure of frictional wage inequality: the ratio of average wages to the reservation wage, or, the 'mean …

I propose a new search-and-matching model in which wage rigidity and volatile unemployment endogenously arise. The …-the-job search and replacement hiring into a long-lived jobs framework. The presence of replacement hiring (i) enhances unemployment … volatility by reducing crowding out of unemployed workers due to employed searchers and (ii) makes equilibrium wages less …

, Germany, and the United Kingdom, we document striking similarities in spatial differences in unemployment, vacancies, job … quantitatively rationalizes why differences in job-separation rates have primary importance in inducing differences in unemployment … across space while changes in the job-finding rate are the main driver in unemployment fluctuations over the business cycle. …

introducing unrealistic unemployment responses to unemployment benefits …

, selective survey of the literature. Four fundamental questions are explored: how are unemployment, job vacancies, and employment …? How are wages determined? What role do labor market dynamics play in explaining business cycles and growth? The survey …

with labor market search and endogenous human capital accumulation. I first show that following an unemployment spell … they receive an increase in their unemployment insurance. I then construct a life-cycle model with risk averse workers who …

employment, wages and labor market sorting, we structurally estimate an equilibrium job ladder model featuring two …