contribution of the two transition rates to the volatility of unemployment, whereas the search shock implies a disproportionate …In this paper, we aim to provide a comprehensive view of the unemployment dynamics generated by different structural … shocks. We show that the relative contribution of the job finding and separation rates to the unemployment dynamics depends …

increased flow into unemployment in a recession is mainly due to reduced hirings, and hence lower job-to-job transitions, rather … separations. We find that separations are relatively flat over the cycle, while accessions are markedly procyclical, and that the … than increased match separations. Our findings have important implications both for the way we view recessions and for the …

negative duration dependence of exit rates from unemployment. Our model has a number of novel testable implications. For …

, based on the estimate of the transition rates between labour market states. We show how to estimate instantaneous transition … illustrate the potential of such methodology using Italian labour market data. First, we decompose the unemployment rate …

, employment-exit rates, and job-to-job transition rates) are two to three times higher in the poorest as compared with the richest …