downward rigidity, and magnifying the response of unemployment to negative shocks. We also consider layoffs and show that for a …

This paper discusses various concepts of unemployment rate benchmarks that are frequently used by policymakers for … particular, we propose two broad categories of unemployment rate benchmarks: (1) a longer-run unemployment rate expected to … prevail after adjusting to business cycle shocks and (2) a stable-price unemployment rate tied to inflationary pressures. We …

We study the impact of graduating in a recession in Flanders (Belgium), i.e. in a rigid labor market. In the presence … of a high minimum wage, a typical recession hardly influences the hourly wage of low educated men, but reduces working …

We study the impact of graduating in a recession in Flanders (Belgium), i.e. in a rigid labor market. In the presence … of a high minimum wage, a typical recession hardly influences the hourly wage of low educated men, but reduces working …

The construction bust which accompanied the Great Recession, and the accompanying need to shift workers across sectors … falls in the trend employment-population ratio. The recent shift in the Beveridge Curve during the Great Recession is … episodes occurring during the mid-1970s and early 2000s recessions, in addition to during the Great Recession. In addition …

density function with higher density and thereby generate large, asymmetric job-finding rate and unemployment reactions. Our …

density function with higher density and thereby generate large, asymmetric job-finding rate and unemployment reactions. Our …

density function with higher density and thereby generate large, asymmetric job-finding rate and unemployment reactions. Our …

tightness. Our model explains a large fraction of the matching efficiency decline during the Great Recession and generates state …