may have increased unemployment, and shows that this is likely to occur if technological change is associated with an …

spirit of Blanchard and Summers (1988), the model can generate multiple equilibria, with a low-quits/high-unemployment … equilibrium coexisting with a high-quits/low-unemployment equilibrium. Under weak conditions, low-unemployment equilibria Pareto … dominate high-unemployment equilibria. Mobility premia improve aggregate welfare but may increase unemployment. …

negative duration dependence of exit rates from unemployment. Our model has a number of novel testable implications. For …

unemployment rates. It may be the case that this locus is steep enough to generate increasing returns to education. This may lead … unskilled are more exposed to unemployment relative to the skilled, as compared with the latter. The two equilibria cannot be …

In this paper, we present a matching model with adverse selection that explains why flows into and out of unemployment …