we examine the policy effects of the minimum wage, unemployment benefits and search frictions. …

This paper explicitly differentiates between unemployment and inactivity, by defining inactivity as a state in which … labor market states. In steady-state, we hence have a theory of equilibrium unemployment determined by both matching … of large flows between employment, unemployment and inactivity. Secondly, it shows that unemployment and aggregate wages …

immigrants' wages are the lowest of all workers due to their ineligibility for unemployment benefits and lower wage bargaining … immigration enforcement mutes job creation and raises the unemployment rate of all workers, having an even larger detrimental …

of in-work benefits on search intensity, participation, employment, and unemployment, compared to a framework in which …