) Downward and upward occupational switching increased by 17% and 4%, respectively. (2) Transitions to unemployment increased by …

market clears at each instant but some labor markets have more workers than jobs, hence unemployment, and some have more jobs … comovement of unemployment, job vacancies, and the rate at which unemployed workers find jobs over the business cycle. It can …-to-employer transitions, and it helps explain the cyclical volatility of vacancies and unemployment …

rate in particular contain implicit theories of unemployment. In some cases, the theory is explicit. When the nominal rate … employment, and higher unemployment. Quite separately, the Diamond-Mortensen-Pissarides model is a widely accepted and well …-developed account of turnover, wage determination, and unemployment. The DMP model is a clashing theory of unemployment, in the sense …