Mukoyama, Toshihiko; Sahin, Aysegl - In: Journal of Monetary Economics 56 (2009) 2, pp. 200-209
There has been a substantial increase in the average duration of unemployment relative to the unemployment rate in the U.S. over the last 30 years. We evaluate the performance of a standard job-search model in explaining this phenomenon. In particular, we examine whether the increase in...