This paper puts search frictions models under novel empirical scrutiny and tests their ability to match empirical observations. To capture changing dynamics we fit an extended Bayesian time-varying parameter VAR to US labour market data from 1962–2016. Our results indicate that these models...

This paper models the impact of the COVID-19 pandemic on graduates and non-graduates in the UK. We use a model that is designed around key features of the UK labour market: (i) graduates typically earn higher wages and enjoy greater job security than non-graduates; (ii) many graduates are...