employment is the efficient unemployment rate, u*. We define u* as the unemployment rate that minimizes the nonproductive use of …). Accordingly, the efficient unemployment rate is the geometric average of the unemployment and vacancy rates: u* = √uv. We compute …

hire much more workers from unemployment than large firms, and that they do so at the very beginning of an economic …. Transitions from unemployment to employment at large firms are generally found to be more (pro-)cyclical. However, this stylised …

the two German micro data sets which provide high-frequency observations on workers' employment and unemployment histories …

. The aim of the paper is to analyse the transitional dynamics of unemployment and vacancies when financial constraints are … describes the transition path of unemployment and vacancies to their steady state values. We show that the transition path … downward sloping. This implies unemployment and vacancies adjust in opposite directions as observed in the data. When …

these two features combined generate an equilibrium comovement between matches on the one hand and unemployment and …Das Papier zeigt, dass das Verhältnis zwischen neugeschaffenen Stellen auf der einen Seite und Arbeitslosigkeit und …

these two features combined generate an equilibrium comovement between matches on the one hand and unemployment and …

comovement between matches, unemployment, and vacancies in dynamic labor market models: either by assuming a standard Cobb …