This paper looks at models of unemployment which make two central assumptions. The first is that wages are bargained … between firms and employed workers, and that unemployment affects the outcome only to the extent that it affects the labor … market prospects of either employed workers or of firms. The second is that the duration of unemployment affects either the …

unemployment, called ranking. With the filling of vacancies unaffected by the selection rule, both equilibria have the same … aggregate dynamics, but different distributions of unemployment durations. With the threat point for the Nash bargained wage … being a worker with zero unemployment duration, the wage with ranking is much more sensitive to changes in the tightness of …

This paper shows how one can interpret the joint movements of wages, unemployment and vacancies in the Phillips and … Beveridge spaces to learn about the origins of the movements in unemployment. The view of the labor market underlying the … movements in unemployment in the US, in the UK and in Germany over the last twenty years …