-cycle-frequency fluctuations in unemployment and job vacancies, given shocks of a plausible magnitude. We use data on the cost of vacancy creation …

-cycle-frequency fluctuations in unemployment and job vacancies, given shocks of a plausible magnitude. We use data on the cost of vacancy creation …

, this allows the model to generate fluctuations of unemployment, vacancies, and labor productivity whose magnitudes are lose …

"unemployment volatility puzzle". We let new matches and continuing jobs differ by their productivity levels and by their … aggregate productivity shock generates a persistent productivity difference between the two types of matches, creating an … well behaving Beveridge curve, despite endogenous job destruction, and more volatile vacancies and unemployment, without a …

paper, we present a model with equilibrium unemployment which has three distinctive properties. First, using a search and …, which allows the model to reproduce the fluctuations of unemployment over the business cycle. And third, the model implies a … reasonable elasticity of steady state unemployment with respect to changes in benefits. The calibration of the model implies low …

paper, we present a model with equilibrium unemployment which has three distinctive properties. First, using a search and …, which allows the model to reproduce the fluctuations of unemployment over the business cycle. And third, the model implies a … reasonable elasticity of steady state unemployment with respect to changes in benefits. The calibration of the model implies low …

response differs depending on the nature of the shock. Broadly speaking, the wage response to permanent shocks is twice as high …

This paper analyses how labour market heterogeneity affects unemployment, productivity and business cycle dynamics that … skilled workers increases the natural rate of unemployment and reduces total factor productivity with long-run effects on the … unemployment are affected differently across skill types. Also, the model generates sideward shifts of the Beveridge curve …