both the vacancy-unemployment ratio and employment. The authors show that the standard version of the Mortensen …

Shimer (2005) argues that the Mortensen-Pissarides (MP) model of unemployment lacks an amplification mechanism because … it generates less than 10 percent of the observed business cycle fluctuations in unemployment given labor productivity … correctly identify the shocks driving unemployment. Using a New-Keynesian framework to control for the endogeneity of …

, Germany, and the United Kingdom, we document striking similarities in spatial differences in unemployment, vacancies, job … quantitatively rationalizes why differences in job-separation rates have primary importance in inducing differences in unemployment … across space while changes in the job-finding rate are the main driver in unemployment fluctuations over the business cycle. …

unemployment, this paper theoretically investigates the importance of labor market duality on labor market volatilities. The new … insight is that duality leads to a non-linear reaction of unemployment volatility for both supply and demand shocks. A … subsequent empirical panel data analysis confirms the model predictions. Uncovering the non-linearity in unemployment volatility …

unemployment. Using a standard model, we show that three factors can shift the Beveridge curve: reduced-form matching efficiency … shift in vacancies given unemployment. In previous recessions changes in matching efficiency were relatively unimportant … analyses estimating the natural rate of unemployment …

of the unemployment rate and of worker transitions. …

, technology shocks have more persistent effects. The job finding rate largely drives the response of unemployment, though the … estimate shock-specific matching functions. Allowing for a break in 1984:Q1 shows considerable subsample differences in … matching elasticities and relative shock-specific efficiency …