frictions and unemployment insurance, when the latter is only imperfectly related to search effort. A balanced social insurance … volatility and persistence of vacancies and unemployment. …

Countercyclical unemployment benefit extensions in the United States act as a propagation mechanism, contributing to … both the high persistence of unemployment and its weak correlation with productivity. We show this by modifying an … otherwise standard frictional model of the labor market to incorporate a stochastic and state-dependent process for unemployment …

unemployment insurance, when the latter is only imperfectly related to search effort. A balanced social insurance budget renders … persistence of vacancies and unemployment. …

We study optimal unemployment insurance (UI) over the business cycle using a heterogeneous agent job search model with …

This paper studies the unemployment accelerator, a mechanism where workers directly affect the firms' financial … conditions, and, in turn, firms' financial conditions feedback again to the real economy. The unemployment accelerator builds on … in labor and financial markets. We provide compelling micro-evidence of the unemployment accelerator: a 10% increase in a …

Using newly digitized unemployment insurance claims data we construct a historical monthly unemployment series for U …-level unemployment data, which are only available from January 1976 onwards, and capture consistent patterns in the business cycle. We … use our claims-based unemployment series to examine the evolving pace of post-war unemployment recoveries at the state …

Countercyclical unemployment benefit extensions in the United States act as a propagation mechanism, contributing to … both the high persistence of unemployment and its weak correlation with productivity. We show this by modifying an … otherwise standard frictional model of the labor market to incorporate a stochastic and state-dependent process for unemployment …

I interpret the empirical evidence on government spending multipliers using an equilibrium model of unemployment in … consumption cost of unemployment …

, unemployment remained high. In this paper, we show that countercyclical unemployment benefit extensions lead to jobless recoveries …. We augment the standard Mortensen-Pissarides model to incorporate unemployment benefits expiration and state …-dependent extensions of unemployment benefits. In the model, an extension of unemployment benefits slows down the recovery of vacancy …

This paper explores the potential externality of welfare payments under the Unemployment Insurance (UI) program during … times of high job destruction rates and unemployment rates on the spread and mortality of COVID-19. Using data for all US …