In this paper, we argue that credit market imperfections impact not only the level of unemployment, but also its … steady-state unemployment, but also slow down the transitional dynamics. We then provide an empirical illustration based on a … persistence of unemployment. -- Credit markets ; labor markets ; unemployment ; credit constraints ; search frictions …

pattern of searchunemployment does not match observed unemployment and we propose a new conceptof 'voluntary' unemployment …

small reduction in the unemployment benefits, or introducing a small cash bonus for workers that get a new job, may have no … e.ect on unemployment in some cases, while eradicating significant levels of unemployment in other cases. Our analysis … multiple equilibria may exist in a game involving both workers and an unemployment-averse government. Furthermore, we explore a …

The job finding rate of Unemployment Insurance (UI) recipients declines in the initial months of unemployment and then … effort. The panel structure allows us to observe how search effort evolves within individual over the unemployment spell. We …

and those predicted to face a penalty compared to their pre-unemployment wage display overly optimistic wage expectations …