Mercan, Yusuf; Schoefer, Benjamin; Sedlácek, Petr - 2020
In recessions, unemployment increases despite the - perhaps counterintuitive - fact that the number of unemployed … recessions, the abundance of new hires "congests" the jobs the unemployed fill, diminishes their marginal product and discourages … excess earnings losses from job displacement and from graduating during recessions, and the insensitivity of unemployment to …
