negative duration dependence of exit rates from unemployment. Our model has a number of novel testable implications. For …

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. …

This paper develops a matching model of the labour market under wage rigidity when hiring decisions are irreversible … may have increased unemployment, and shows that this is likely to occur if technological change is associated with an …

summarized as showing that the very existence of unemployment generates political support for "sclerosis". This observation may …

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