This paper studies the role of job-to-job transitions in driving unemployment dynamics. Three stylized facts emerge from applying and extending a well-known stocks-flows based decomposition to the UK and US labour markets for the past two decades. First, the variations in the job-to-job...

Increases in the ins of unemployment during recessions are the result of two major forces: increased layoffs, or a fall in job finding of potential job-to-job transitions. This paper quantifies the contribution of these two channels using the flows approach to the labour market in the UK and US...

Increases in the ins of unemployment during recessions are the result of two major forces: increased layoffs, or a fall in job finding of potential job-to-job transitions. This paper quantifies the contribution of these two channels using the flows approach to the labour market in the UK and US...