This paper provides a unified account of the trends in unemployment and labor force participation pertaining to the employment experience of older male workers during the past half-century. We build an equilibrium life-cycle model with labor-market frictions and an operative labor supply margin,...

In this paper, I propose a new Keynesian DSGE model with labor market search and matching frictions which replicates the low volatility and the moderate procyclicality of the labor force participation rate, that are observed in the United States at business cycle frequency. That being so,it can...

This paper provides new interpretations of the effects of rising economic turbulence—an increase in the rate of skill depreciation upon job loss—and its interaction with labor market institutions. We have three main results, based on a life‐cycle model with labor market frictions and labor...

This paper focuses on the differences in earnings and labor force status of low-skilled prime age men in France, the United Kingdom, and the United States at the end of the 20th century, and their relation to the differences in wage dispersion. In the UK and the US, where the bottom of the wage...

The aggregate average unemployment rate in a given country is essentially the result of individual workers' transitions between the three core labor force states, employment, unemployment, and inactivity. The dynamics of these transitions depend both, on individual duration in a particular state...

Using recent results in the measurement error literature, we show that the official U.S. unemployment rates substantially underestimate the true levels of unemployment, due to misclassification errors in labor force status in Current Population Surveys. Our closed-form identification of the...

Using recent results in the measurement error literature, we show that the official U.S. unemployment rates substantially underestimate the true levels of unemployment, due to misclassification errors in labor force status in Current Population Surveys. Our closed-form identification of the...

Zahlen aus türkischen Flüchtlingslagern legen nahe, dass fast 50% der Flüchtlinge aus Syrien nicht über grundlegende Bildungskenntnisse verfügen dürften. Gleichzeitig wissen wir aus einer Analyse des deutschen Sozio-oekonomischen Panels, dass fast 50% der in den letzten fünf Jahren aus...

In this paper we use information on the cyclical variation of labor market participation to learn about the aggregate labor supply elasticity. For this purpose, we extend the standard labor market matching model to allow for endogenous participation. A model that is calibrated to replicate the...

Studies of transition economy labor markets have typically relied on standard, publicly available employment and unemployment statistics. This paper analyzes microdata on detailed labor force survey responses in Russia, Romania, and Estonia to measure nonstandard, boundary forms and alternative...