participation. A model that is calibrated to replicate the variability of unemployment and participation, and the negative … correlation of unemployment and GDP, implies an aggregate labor supply elasticity along the extensive margin of around 0.3 for men …

Existing models of equilibrium unemployment with endogenous labor market participation are complex, generate … procyclical unemployment rates and cannot match unemployment variability relative to GDP. We embed endogenous participation in a … variabilities but also generates strongly countercyclical unemployment rates. With some wage rigidity the model also matches …

Existing models of equilibrium unemployment with endogenous labor market participation are complex, generate … procyclical unemployment rates and cannot match unemployment variability relative to GDP. We embed endogenous participation in a … variabilities but also generates strongly countercyclical unemployment rates. With some wage rigidity the model also matches …

Existing models of equilibrium unemployment with endogenous labor market participation are complex, generate … procyclical unemployment rates, and suffer from the usual defects of matching models. We embed endogenous participation in a … variabilities but also generates strongly countercyclical unemployment rates. Furthermore, the low labor supply elasticity implied …

replacement rates or initial tax rates are high, while no increase in unemployment occurs when institutions are ‘employment …This Paper explains the divergent behaviour of European and US unemployment rates using a job market-matching model of … the labour market with an interaction between shocks and institutions. It shows that a reduction in TFP growth rates, an …