depreciation upon job loss—and its interaction with labor market institutions. We have three main results, based on a life … between turbulence and institutions explains most of the reduction in labor force participation among older workers in Europe … over this period, but ultimately explains little of the rise in unemployment. Third, only a small share of the increase in …

probabilities between private and public employment, unemployment and inactivity. We examine the stocks and flows by gender, age and … unemployment rate. Public-sector employment contributes 20 percent to fluctuations in the unemployment rate in the UK, 15 percent …

This paper provides a unified account of the trends in unemployment and labor force participation pertaining to the … institutions in ways that deteriorate employment. The model explains simultaneously: (i) the fall in labor force participation in … the United States, (ii) the similar but more pronounced decline in Europe alongside rising unemployment rates and (iii …

In this paper, we quantify the contribution of labor market reforms to unemployment dynamics in nine OECD countries … the heterogeneous-worker mechanism proposed by Robin (2011) to explain unemployment volatility by productivity shocks … benefits and product market deregulation stand out as the most prominent policy levers for unemployment reduction. All other …

increased flow into unemployment in a recession is mainly due to reduced hirings, and hence lower job-to-job transitions, rather …