In this paper, we present a matching model with adverse selection that explains why flows into and out of unemployment …

In this paper, we present a matching model with adverse selection that explains why flows into and out of unemployment …

In this paper, we present a matching model with adverse selection that explains why flows into and out of unemployment …

spirit of Blanchard and Summers (1988), the model can generate multiple equilibria, with a low-quits/high-unemployment … equilibrium coexisting with a high-quits/low-unemployment equilibrium. Under weak conditions, low-unemployment equilibria Pareto … dominate high-unemployment equilibria. Mobility premia improve aggregate welfare but may increase unemployment. …

In this paper, we present a matching model with adverse selection that explains why flows into and out of unemployment …

This paper starts from the observation that despite their very high levels of unemployment, major European countries … have devoted few resources to reducing it. This suggests that there is little political concern about high unemployment. I …

In this paper, we present a matching model with adverse selection that explains why flows into and out of unemployment …

may have increased unemployment. It is shown that it is likely to be so if they are associated with an increase in the …