The Great Recession tested the ability of the "great U.S. jobs machine" to limit the severity of unemployment in a … live up to expectations. The level and duration of unemployment increased substantially in the downturn and the growth of …

This paper studies the effect of two labor market institutions, unemployment insurance (UI) and job search assistance … search unemployment, skill depreciation during unemployment, and idiosyncratic as well as aggregate labor market risk. The …

This paper studies the effect of two labor market institutions, unemployment insurance (UI) and job search assistance … search unemployment, skill depreciation during unemployment, and idiosyncratic as well as aggregate labor market risk. The …

unemployment, this paper theoretically investigates the importance of labor market duality on labor market volatilities. The new … insight is that duality leads to a non-linear reaction of unemployment volatility for both supply and demand shocks. A … subsequent empirical panel data analysis confirms the model predictions. Uncovering the non-linearity in unemployment volatility …