. The Beveridge curve depicts the steady state of the model, whereby inflows into unemployment are equal to the outflows …

This paper starts from the observation that despite their very high levels of unemployment, major European countries … have devoted few resources to reducing it. This suggests that there is little political concern about high unemployment. I …

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. …

A new methodology is described which tests between various equilibrium theories of unemployment using matching data … identify a matching process using data which is recorded monthly, and also shows how to identify different unemployment … those vacancies come onto the market. In particular, these workers’ experience average durations of unemployment which …

Similar durations but lower flows into unemployment gave Europe lower unemployment rates than the United States until … the 1970's. But since 1980, higher durations have kept unemployment rates in Europe persistently higher than in the U.S. A … costs and more generous unemployment compensation make its unemployment rate respond to a parameter that measures a worker …

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