Labor market frictions are able to induce sluggish aggregate employment dynamics. However, these frictions have strong implications for the source of this propagation: they distort the path of aggregate employment by impeding the flow of labor across firms. For a canonical class of frictions, we...

Understanding what moves the Phillips curve is important to monetary policy. Because the Phillips curve has experienced over time movements similar to those characterizing the Beveridge curve, the authors jointly analyze the two phenomena. They do that through an agent-based macro model based on...

I estimate the effect of tightness on wages in Hungary and Slovakia. The Mortensen Pissarides model predicts a positive relationship but the empirical evidence is scarce. I instrument tightness by the distance of a district from the Austrian border, interacted with a dummy that marks the opening...

Based on the counting of Help-wanted advertisements in print newspapers, we build national vacancy indexes and vacancy rates for Colombia for the period 1976 - 2012. The result is the first dataset capturing the evolution of vacancies for Colombia and the first one covering such a long period...

In the transition from central planning to a market economy in the 1990s, governments focused on privatizing or closing state enterprises, reforming labor markets, compensating laid-off workers, and fostering job creation through new private firms. After privatization, the focus shifted to...

Using individual-level Current Population Survey (CPS) data matched across adjacent months from 1996 to 2013, this paper examines immigrant-native differentials in labor market transitions to changes in the business cycle. The paper captures economic fluctuations by measuring deviations in local...

Since the beginning of the recession period in Europe, unemployment has greatly affected the young adult population. In this context, Spain is regarded as an extreme case, due to its exceptionally high youth unemployment rates. This article seeks to identify the determinants that have led...