We examine the optimal labor market-policy mix over the business cycle. In a search and matching model with risk …- cancy subsidy, a layoff tax and unemployment benefits. We derive analytical expressions for the optimal setting of each of … replacement rate of unemployment insurance should all rise in recessions. We find this confirmed in a calibration targeted to the …

equilibrium unemployment rates. Next we demonstrate that the decentralized equilibrium is inefficient for any value of the … is always below the social gain, so the equilibrium unemployment of high ability workers is above its optimal value …

the financial market, we address two prominent mechanism through which firms' financial constraints amplify unemployment … substantial decline in both unemployment and wages. Financial constraints therefore weaken the direct link between wage rigidity … and unemployment volatility. …

Although New Keynesian models with labor market frictions found an increase in unemployment and a decrease in labor … volatilities of unemployment and labor market tightness are not as high as their empirical counterparts. This calls for the … volatility of unemployment and labor market tightness in response to a positive technology shock compared to the model without on …

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 …

-cycle migration. In this model unemployment arises from search and matching frictions. We endogenize migration via the unemployed …Recently migration patterns in the euro area changed markedly in response to increasing unemployment disparities. This … business-cycle related fluctuations in net migration flows and the crucial role of unemployment and vacancies in shaping …

Arbeitspapier neuere Entwicklungen innerhalb eines Zweiges informationsökonomischer Ansätze vorgestellt: der Suchtheorie. Dabei … das Resultat der klassischen Arbeitsmarkttheorie, dass gewerkschaftliche Lohnbeeiflussung zu höherer Arbeitslosigkeit … führt, im Kontext der Suchtheorie valide ist. Auf dem Weg hin zu einer empirisch gültigen Theorie des Arbeitsmarktes stellt …