This paper analyses how labour market heterogeneity affects unemployment, productivity and business cycle dynamics that … skilled workers increases the natural rate of unemployment and reduces total factor productivity with long- run effects on the … Beveridge curves. Skill-specific labour market heterogeneity leads to a attening of the Phillips curve as wages and unemployment …

. Traditionally, the unemployment rose sharply during previous economic recessions. Therefore, it seemed like a novelty when the … unemployment rate rose only insignificantly in a pandemic recession. We find that both the demand and supply side of the labour … increase in unemployment during a recession, the rate of utilization of workers’ time capacities fell, with expected impacts …