The evolution of Spanish unemployment has been quite idiosyncratic. The full-employment levels of the early seventies … were followed by unemployment rates that were the highest within the OECD countries in the aftermath of the oil price … shocks. While unemployment was extremely persistent in most of the eighties and nineties, it experienced its sharpest decline …

Ljungqvist and Sargent (2017) (LS) show that unemployment fluctuations can be understood in terms of a quantity they … understanding unemployment fluctuations. We show how the LS framework can be adapted to incorporate risk premia. We derive an … show how to use properties of the artificial economy to deduce how risk premia affect unemployment dynamics in the original …

Using German data this study applies an unobserved-components approach to disentangle the unemployment rate into a … trend component of unemployment, which triggers permanent reactions of the workers, is likely connected to a structural … effect. By splitting up the participation effect of changes in the unemployment rate our analysis differs profoundly from …

Standard macroeconomic models underpredict the volatility of unemployment fluctuations. A common solution is to assume … jobs. This form of wage rigidity does not affect job creation and thus cannot explain the unemployment volatility puzzle …

Standard macroeconomic models underpredict the volatility of unemployment fluctuations. A common solution is to assume … jobs. This form of wage rigidity does not affect job creation and thus cannot explain the unemployment volatility puzzle …

cycle fluctuations in employment and unemployment. They argue that it is likely that wages are not adjusted as regularly as …

Standard macroeconomic models underpredict the volatility of unemployment fluctuations. A common solution is to assume … jobs. This form of wage rigidity does not affect job creation and thus cannot explain the unemployment volatility puzzle …