A search and matching model, when calibrated to the mean and volatility of unemployment in the postwar sample, can … potentially explain the unemployment crisis in the Great Depression. The limited responses of wages from credible bargaining to … labor market conditions, along with the congestion externality from matching frictions, cause the unemployment rate to rise …

unemployment rates, is a good start to understanding the unemployment crisis in the Great Depression. Drawing from rarely used data … sources, this paper compiles historical monthly time series of U.S. unemployment rates, vacancy rates, and labor productivity …, some of which date back to 1890. The frequency, persistence, and severity of the unemployment crises in the model are …

A search and matching model, when calibrated to the mean and volatility of unemployment in the postwar sample, can … potentially explain the large unemployment dynamics in the Great Depression. The limited response of wages to labor market … conditions from credible bargaining and the congestion externality from matching frictions cause the unemployment rate to rise …

Die zunehmende Arbeitslosigkeit in der Bundesrepublik äußert sich in einer Außenverlagerung der Beveridge-Kurve. In … Konstellation dar. Entwertet sich das Humankapital während der Arbeitslosigkeit, führt schon ein schwacher Abschwung zu einer … dauerhaften Zunahme der Arbeitslosigkeit. Der Effekt wird durch die Berücksichtigung von Insider-Lohnsetzung zusätzlich verstärkt …