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monthly transitions among employment, unemployment, and nonparticipation. Immigrants are found to be first fired and first … hired over the business cycle, and the aggregate unemployment gap is caused by immigrants’ higher rates in the unemployment …
Persistent link: https://www.econbiz.de/10011974426
This chapter assesses how models with search frictions have shaped our understanding of aggregate labor market outcomes in two contexts: business cycle fluctuations and long-run (trend) changes. We first consolidate data on aggregate labor market outcomes for a large set of OECD countries. We...
Persistent link: https://www.econbiz.de/10014025126
domestic to tradable industries. This leads to a loss in industry specific human capital, causing a jump in unemployment. The …
Persistent link: https://www.econbiz.de/10010533135
This paper assesses the impact the Great Recession had on individuals' transitions to and from unemployment in Ireland …. The rate of transition from unemployment to employment declined between 2006 and 2011, while the rate from employment to … unemployment increased. The results indicate that young people are much less likely to exit unemployment but, at the same time …
Persistent link: https://www.econbiz.de/10010533278
Since the beginning of the recession period in Europe, unemployment has greatly affected the young adult population. In … this context, Spain is regarded as an extreme case, due to its exceptionally high youth unemployment rates. This article … with higher levels of unemployment and instability during the Great Recession than others. To do this, retrospective data …
Persistent link: https://www.econbiz.de/10012147319
This paper develops a DSGE model with investment and capital accumulation build along demand-driven explanations of the Great Recession. Specifically, following Farmer (2013), I set forth a search framework in which households decide about consumption while firms decide about recruiting effort...
Persistent link: https://www.econbiz.de/10011865573
The Unemployment Insurance (UI) system in the United States has played a decisive lifeline role in effectively … before - despite that the average duration of unemployment had almost doubled in the aftermath of the Great Recession. The … introduce - for example in Europe - a common unemployment insurance scheme for macroeconomic stabilization. …
Persistent link: https://www.econbiz.de/10014414017
We propose a unique method of nowcasting and forecasting GDP growth based on a forward-looking measure of unemployment …
Persistent link: https://www.econbiz.de/10014506541
This paper develops a sufficient-statistic formula for the unemployment gap-the difference between the actual … unemployment rate and the efficient unemployment rate. While lowering unemployment puts more people into work, it forces firms to … post more vacancies and to devote more resources to recruiting. This unemployment-vacancy tradeoff, governed by the …
Persistent link: https://www.econbiz.de/10012800439
properties of employment and unemployment equilibrium. Second, it applies the model to the study of employment fluctuations and … to the explanation of differences in unemployment rates in industrialized countries. The search and matching model is … unemployment and of jobs out of the market (the ‘job destruction’ flow). Steady-state equilibrium is at the point where the two …
Persistent link: https://www.econbiz.de/10014024227