This paper studies the role of labor market institutions on unemployment and on the cyclical properties of job flows …. We construct an intertemporal general equilibrium model with search unemployment and endogenous job turnover, and examine … the consequences of introducing an unemployment benefit, a firing cost and a downward wage rigidity. The model is able to …

unemployment rates. Using U.S. data, we find that individual labor force participation responds asymmetrically to changes in local … labor market conditions, consistent with the pattern of movements in the aggregate unemployment rate. Differences in the …

hire much more workers from unemployment than large firms, and that they do so at the very beginning of an economic …. Transitions from unemployment to employment at large firms are generally found to be more (pro-)cyclical. However, this stylised …

unemployment at large firms are generally found to be more cyclical. However, this stylised fact disappears when the composition of …