U.S. CPS gross flows data indicate that in recessions firms actually increase their hiring rates from the pools of the … dynamic behavior of the labor share of GDP. The counter-cyclicality of hiring rates and job values, which may appear counter … productivity and the forward-looking concept of job value. The paper explains the high volatility of firm recruiting behavior, as …

its persistence and increase the volatility of vacancies. Hiring subsidies and unemployment benefits have substantial …

percent increase in the state-level 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 …

its persistence and increase the volatility of vacancies. Hiring subsidies and unemployment benefits have substantial …

high volatility of most of the key variables, the negative co-variation of unemployment and vacancies, and the behavior of … the worker job finding rate. A key role in this fit is played by the convexity of hiring costs and the stochastic …

specifications of the data on many dimensions, though not on all. This includes capturing the high persistence and high volatility of … most of the key variables, as well as the negative co-variation of unemployment and vacancies. It offers a workable …

non-Ramsey decentralized equilibrium, labor market volatility is inefficient. Keeping fixed the structural parameters, the … Ramsey government achieves efficient labor market volatility; doing so requires labor-income tax volatility that is orders of … to understand optimal tax volatility. …