their unemployment rate rose less than the one of prime-age workers. This view is a myth: older workers are more sensitive …

small movement along a downward sloping Beveridge curve (unemployment-vacancy locus). A shock to the job destruction rate … generates a counterfactually positive correlation between unemployment and vacancies. In both cases, the shock is only slightly …-cycle-frequency fluctuations in unemployment and job vacancies in response to shocks of a plausible magnitude. In the U.S., the vacancy-unemployment …