-cycle-frequency fluctuations in unemployment and job vacancies, given shocks of a plausible magnitude. We use data on the cost of vacancy creation …

in recessions by examining the movement of relative unemployment rates over the business cycle. Any conclusion drawn from … of unemployment are not examined. Using Current Population Survey data matched across adjacent months from 1989 to 2004 … the racial unemployment gap near the peak of the business cycle is driven by a reduction in the rate of job loss for …