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This chapter assesses how models with search frictions have shaped our understanding of aggregate labor market outcomes in two contexts: business cycle fluctuations and long-run (trend) changes. We first consolidate data on aggregate labor market outcomes for a large set of OECD countries. We...
Persistent link: https://www.econbiz.de/10009642954
.S. unemployment rates. We extract the common dynamics amongst unemployment rates disaggregated for 7 age groups. The framework allows … analysis of the contribution of demographic factors to secular changes in unemployment rates. In addition, it allows … favor of the common factor and of the switching between high and low unemployment rate regimes. We also find that …
Persistent link: https://www.econbiz.de/10014129256
.S. unemployment rates. We extract the common dynamics amongst unemployment rates disaggregated for 7 age groups. The framework allows … analysis of the contribution of demographic factors to secular changes in unemployment rates. In addition, it allows … favor of the common factor and of the switching between high and low unemployment rate regimes. We also find that …
Persistent link: https://www.econbiz.de/10014125547
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...
Persistent link: https://www.econbiz.de/10013334381
-ownership rate in a U.S. state are a precursor to eventual sharp rises in unemployment in that state. The elasticity exceeds unity: a … unemployment rate. What mechanisms might explain this? We provide evidence that rises in home-ownership are associated with three …
Persistent link: https://www.econbiz.de/10010195450
to unemployment which is channelled through the welfare systems to this group of people who are clearly vulnerable to the … recession's adverse effects. In order to assess the impact of unemployment on household income, counterfactual scenarios are … not to Unemployment Benefits, and from the personal and household circumstances of those most recently at risk of …
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