In the past decades several features of U.S. unemployment dynamics have been investigated empirically. The original … focus of research was on the duration of unemployment. In later studies the cyclicality of incidence and duration …, compositional effects and duration dependence of the exit rate out of unemployment have been investigated. Unlike the partial …

In the past decades several features of U.S. unemployment dynamics have been investigated empirically. The original … focus of research was on the duration of unemployment. In later studies the cyclicality of incidence and duration …, compositional effects and duration dependence of the exit rate out of unemployment have been investigated. Unlike the partial …

frictions and unemployment insurance, when the latter is only imperfectly related to search effort. A balanced social insurance … budget renders gross wages more rigid over the cycle and, as a result, strengthens the model's endogenous propagation … volatility and persistence of vacancies and unemployment. …

frictions and unemployment insurance, when the latter is only imperfectly related to search effort. A balanced social insurance … budget renders gross wages more rigid over the cycle and, as a result, strengthens the model's endogenous propagation … volatility and persistence of vacancies and unemployment. …

Private consumption demand falls in response to increased unemployment risk during a recession, as households increase … unemployment risk is more important than realized unemployment shocks in accounting for durable expenditure dynamics during … recessions, while the opposite is true for nondurables. The importance of anticipation of future unemployment risk also means …

This paper develops a sufficient-statistic formula for the unemployment gap-the difference between the actual … unemployment rate and the efficient unemployment rate. While lowering unemployment puts more people into work, it forces firms to … post more vacancies and to devote more resources to recruiting. This unemployment-vacancy tradeoff, governed by the …

joint unemployment and vacancy dynamics. We show conditions for constrained efficiency and discuss important implications of …

joint unemployment and vacancy dynamics. We show conditions for constrained efficiency and discuss important implications of …

joint unemployment and vacancy dynamics. We show conditions for constrained efficiency and discuss important implications of …

This paper considers a real business cycle model with search frictions in the labor market and labor supply which is … unemployment and a positively-sloped Beveridge curve. This paper presents a calibrated model which succeeds at generating … countercyclical unemployment and a negatively-sloped Beveridge curve despite the presence of a participation margin. …