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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...
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not the case. Although unemployment is low, the labor market is not 'tight'. On the contrary, we show that what matters … to maintain their real wages by reducing labor demand still further. Furthermore, we argue inflationary pressures have …
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labor force participation rate, reversing a nearly 50-year trend; the nearly full recovery of unemployment from the depths …
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labor force participation rate, reversing a nearly 50-year trend; the full recovery of unemployment from the depths of the …
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Surveys of Youth, we find that negative labor market outcomes during high-unemployment periods are mitigated by exposure to a …
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This article studies the responses of real wages and labour market flows of immigrants in Spain for the period between … for immigrants than for natives: a one percentage point increase in the unemployment rate is associated with a 0.61 and 0 ….85% drop in real wages for natives and immigrants, respectively. However, these differences only occur among low-tenure workers …
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made in terms of several macroeconomic indicators, GDP, Unemployment, Inflation, Current Account Balances, and debt. …
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