(TVAR), we establish that the unemployment rate, the job separation rate, and the job finding rate exhibit a larger response … 88 percent of the state dependence in the unemployment rate, 76 percent for the separation rate and 36 percent for the …

There is little internal propagation of unemployment in standard search and matching models. When calibrated to the … high levels of worker flows observed empirically, unemployment in these models rapidly converges back to its steady state … level. We illustrate that even with high worker flows between employment and unemployment, slow movements in the composition …

employed, and (ii) in response to increasing unemployment rate, the propensity to become entrepreneurs increases for employed … entrepreneurship and unemployment with endogenous job destructions. Entry decision into entrepreneurship is affected by an … opportunistic effect and a separation effect, which is strengthened by surging unemployment risk in recessions. I show that the …

The Great Recession, which was preceded by the financial crisis, resulted in higher unemployment and inequality. We …, tighter credit leads to lower output, lower number of vacancies, and higher directed-search unemployment. Where workers are …

We analyze the general equilibrium effects of countercyclical unemployment benefit policies. Our heterogenous …-agent model features costly job search with imperfect insurance of unemployment risk and individual savings. Our model predicts …: (1) the additional unemployment under a countercyclical policy relative to that under an acyclical policy to be a …

This paper investigates the impact of endogenous unemployment insurance (UI) extensions on the dynamics of unemployment … for the maximum UI duration to depend on unemployment and for UI benefits to depend on worker characteristics. UI … extensions have a large effect on long-term unemployment during the Great Recession via job search responses and a moderate …

This paper analyses how labour market heterogeneity affects unemployment, productivity and business cycle dynamics that … skilled workers increases the natural rate of unemployment and reduces total factor productivity with long- run effects on the … Beveridge curves. Skill-specific labour market heterogeneity leads to a attening of the Phillips curve as wages and unemployment …

In this paper, we show that underemployment and not necessarily high unemployment becomes the main measure of economic … and cost shocks can explain movements of unemployment and underemployment in opposite directions, while demand and supply … employment record and the absence of wage pressures despite low unemployment rates after the Great Recession …

We develop a multi-sectoral matching model to predict the impact of the lockdown on the US unemployment, considering … and business closures that hit the workers with the first level of education explains the abruptness of the unemployment …-crisis unemployment level could be reached in 2024 in a scenario with a double wave. In the same scenario, a calibration on French data …

the impact of uncertainty shocks on unemployment dynamics. Using a vector autoregression approach, we show that … uncertainty shocks measured by stock market volatility have a significant impact on the U.S. unemployment rate. We then develop a …