How can vacancy statistics be used to measure friction in job matching and the effects of friction on unemployment? First, measure deviations from instantaneous hirings by the average duration of recruitment as measured by the number of job vacancies divided by the number of hirings per month....

We study a labour market in which firms can observe workers’ output but not their effort, and in which a worker’s productivity in a given firm depends on a worker-firm specific component, unobservable for the firm. Firms offer wage contracts that optimally trade off effort and wage costs. As...

This paper investigates the link between youth unemployment and crime using a unique combination of labor market and conviction data spanning the entire Swedish working-age population over an extended period. The empirical analysis reveals large and statistically significant effects of...