Wages are only mildly cyclical, implying that shocks to labour demand have a larger short-run impact on unemployment …

, reservation wages, applicants per vacancy, and tenure, objects that enable it to generate the trends in unemployment flows …

The issue of whether unemployment benefits should increase or decrease over the unemployment spell is analyzed in a … productivity of the unemployed is constant over the unemployment spell, benefits should typically increase or be constant. The only …

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 …

This study documents how job seekers update perceived job-finding prospects by unemployment duration and by learning … about aggregate unemployment. We find that job seekers perceive an 18% decline in their job-finding probability for each … additional month of unemployment, but perceive a higher job-finding probability when the aggregate unemployment rate is …

that households with a participating wife are better able to deal with unemployment of the husband. A supplementary … sensitive to his own unemployment income if the wife is nonparticipating. This implies that unemployment benefits have a …

unemployment policies. In our model, firms face a pool of applicants and observe unemployment duration and a signal about … recent evidence from audit studies. Optimal policy takes into account that unemployment benefits can affect hiring … probabilities by making unemployment duration more or less informative and by changing the applications-per-vacancy ratio due to …