This paper analyzes the impact of supply shocks, demand shocks and policy shocks on labour market dynamics, using a consistent macroeconomic flow model of the Dutch labour market. The long run properties of the model mimic those of the theoretical equilibrium search models, with endogenous...

A sensitivity analysis using an empirical model of labour market dynamics shows that an increase in the pace of structural chance, which leads to an outward shift of the UV-curve, may have substantial effects on employment and unemployment especially when the initial pace of structural change is...

A flow model of the Dutch labour market is used to calculate the efects of autonomous labour demand and supply shocks on employment and unemployment. The model is centered around a matching function which allows for heterogeneous unemployment by taking explicitly account of POWS through various...

This paper analyzes the impact of supply shocks, demand shocks and policy shocks on labour market dynamics, using a consistent macroeconomic flow model of the Dutch labour market. The long run properties of the model mimic those of the theoretical equilibrium search models, with endogenous...

A flow model of the Dutch labour market is used to calculate the efects of autonomous labour demand and supply shocks on employment and unemployment. The model is centered around a matching function which allows for heterogeneous unemployment by taking explicitly account of POWS through various...

A sensitivity analysis using an empirical model of labour market dynamics shows that an increase in the pace of structural chance, which leads to an outward shift of the UV-curve, may have substantial effects on employment and unemployment especially when the initial pace of structural change is...