In this paper, I quantify the contribution of occupation-specific shocks and skills to unemployment duration and its … the period 1995-2013, the model captures 69.5% of long-term unemployment in the data, while a uniform finding rate … delivers only 47.2%. In the Great Recession, the model predicts 72.9% of the long-term unemployment that existed in the data …

higher unemployment rates during typical schooling years select majors that earn higher wages, that have better employment … response to differences in particular majors' labor market prospects during a recession. However, higher unemployment leads to …

Why is unemployment higher for younger individuals? We address this question in a frictional model of the labor market … observed age differences in unemployment which, as in the data, are due to differences in job separation rates …

them, and workers use this information to infer their types. Our theory explains how search outcomes during unemployment … with less experience in searching have (1) longer unemployment duration and (2) higher probability of changing occupation …