In this paper we define and estimate measures of labor market frictions using data on job durations. We compare different estimation methods and different types of data. We propose and apply an unconditional inference method that can be applied to aggregate duration data. It does not require...

Although the youth unemployment ratio in Germany may appear low compared to other countries, it is regarded a severe economic and social problem. There is no doubt that it is an especially gross form of waste of resources and “disinvestment” of human capital. In the long run no country can...