One of the strongest trends in recent macroeconomic modeling of labor market fluctuations is to treat unemployment inflows as acyclical. This trend stems in large part from an influential paper by Shimer on quot;Reassessing the Ins and Outs of Unemployment,quot; i.e., the extent to which...

One of the strongest trends in recent macroeconomic modeling of labor market fluctuations is to treat unemployment inflows as acyclical. This trend stems in large part from an influential paper by Shimer on "Reassessing the Ins and Outs of Unemployment," i.e., the extent to which increased...

The deep recession that began in December 2007 and ended in June 2009, has had a lasting effect on the labor market. More than four and a half years after the end of the recession, employment has risen sluggishly--much more slowly than it grew, on average, during the four previous recoveries...