unemployment relative to wage employment, and that self-employment increases with this ratio. To understand the sources of these … matches, and calibrate it to match all transition rates between wage employment, unemployment and self-employment as well as … that labor market frictions affect self-employment as much as unemployment. Labor market frictions also reduce aggregate …

labour rather than worker characteristics is the main reason for pervasive underemployment. Integration into the global …

unemployment and informality do not change substantially. The effects are greater when the initial shock increases informality in …