How the internet affects job matching is not well understood due to a lack of data on job vacancies and quasi … unemployment-spell. Consequently, our calculations suggest that the steady-state unemployment rate fell by as much as one-fifth. …

How the internet affects job matching is not well understood due to a lack of data on job vacancies and quasi … unemployment-spell. Consequently, our calculations suggest that the steady-state unemployment rate fell by as much as one-fifth. …

costs influence insider wages and outsiders? opportunities and how these costs affect employment and unemployment. We also … address the more complex, and open, question of how employment and unemployment move through time, in response to labor market …

costs influence insider wages and outsiders' opportunities and how these costs affect employment and unemployment. We also … address the more complex, and open, question of how employment and unemployment move through time, in response to labor market …

costs influence insider wages and outsiders’ opportunities and how these costs affect employment and unemployment. We also … address the more complex, and open, question of how employment and unemployment move through time, in response to labor market …

The paper presents a stochastic insider-outsider model that accounts for the following stylized facts: (1) unemployment … rates display a high degree of serial correlation, or `persistence'; (2) the average rate of unemployment has been higher in … long-run unemployment rate is independent of the level of productivity and the magnitude of the labour force. The model …

evidence and declining job finding rates and starting wage with duration of unemployment, both of which are present in the data. …

duration of unemployment, both of which are present in our data. …

. The aim of the paper is to analyse the transitional dynamics of unemployment and vacancies when financial constraints are … describes the transition path of unemployment and vacancies to their steady state values. We show that the transition path … downward sloping. This implies unemployment and vacancies adjust in opposite directions as observed in the data. When …