This paper provides revealed-preference estimates of the monetary value of avoiding job search in a high-unemployment labor market by examining the behavior of military servicemembers deciding between reenlisting and exiting the military. We find that servicemembers would sacrifice 1.5-2% in...

This paper provides revealed-preference estimates of the monetary value of avoiding job search in a high-unemployment labor market by examining the behavior of military servicemembers deciding between reenlisting and exiting the military. We find that servicemembers would sacrifice 1.5-2% in...

Advances in the relative labor market position of black men stagnated in the 1980s, after nearly four decades of steady improvement. The structural change of the early 1980s was particularly costly for black men. Past research shows that black men faced a substantially higher risk of job...

Using data from the 1984 to 1992 Displaced Worker Surveys, we find that black men fared much worse than white men at every stage of job displacement. For the period 1982 to 1991, black men experienced rates of job displacement that were 30 percent higher, reemployment rates that were 30 percent...

Advances in the relative labor market position of black men stagnated in the 1980s, after nearly four decades of steady improvement. The structural change of the early 1980s was particularly costly for black men. Past research shows that black men faced a substantially higher risk of job...

We document the sources behind the costs of job loss over the business cycle using administrative data from Germany. Losses in annual earnings after displacement are large, persistent, and highly cyclical, nearly doubling in size during downturns. A large part of the long-term earnings losses...

In this paper we challenge the traditional labour market view, which argues that unemployment is determined in the long-term by its equilibrium rate, which in turn is affected by permanent shocks of some exogenous variables. In our empirical approach we decompose the dynamics of employment and...

The aim of this paper is to analyze and estimate salient characteristics of unemployment dynamics. Movements in unemployment are viewed as "chain reactions" of responses to labour market shocks, working their way through systems of interacting lagged adjustment processes. In the context of...

A widely spread belief among economists is that monetary policy has relatively short-lived effects on real variables such as unemployment. Previous studies indicate that monetary policy affects the output gap only at business cycle frequencies, but the effects on unemployment may well be more...

A widely spread belief among economists is that monetary policy has relatively short-lived effects on real variables such as unemployment. Previous studies indicate that monetary policy affects the output gap only at business cycle frequencies, but the effects on unemployment may well be more...