cycle fluctuations in employment and unemployment. They argue that it is likely that wages are not adjusted as regularly as …

unemployment durations and the stability of jobs found after unemployment before and during the recent crisis. We find particularly … strong effects of the crisis on the hazards in the beginning of the unemployment spell. The groups hit hardest by the crisis … to the more pro-cyclical nature of men's jobs. Decompositions show that the increase in average unemployment duration and …

Standard macroeconomic models underpredict the volatility of unemployment fluctuations. A common solution is to assume … jobs. This form of wage rigidity does not affect job creation and thus cannot explain the unemployment volatility puzzle …

Although job vacancies have increased quite significantly since mid-2009, the unemployment rate has not declined … behavior of the unemployment rate and other labor market outcomes since the start of the latest recession …

the business cycle features of job flows, worker flows between employment and unemployment, and job-to-job transitions …. The calibrated model successfully replicates (i) countercyclical worker flows between employment and unemployment, (ii …. The cyclical properties of worker flows between employment and unemployment differ from those of job flows, partly because …

, unemployment is acyclical and highly positively correlated with vacancies. Based on the evidence that job-to-job flows are large in …-to-job flows. The modi ed model successfully generates countercyclical unemployment and the Beveridge Curve relationship …

job flows simultaneously. In particular, the model correctly predicts that hires from unemployment move countercyclically … through unemployment but is part of job creation, for which procyclicality of the job finding rate dominates its cyclicality …. We also show that the model generates large volatilities of unemployment and vacancies when a worker's outside option is …