, selective survey of the literature. Four fundamental questions are explored: how are unemployment, job vacancies, and employment …? How are wages determined? What role do labor market dynamics play in explaining business cycles and growth? The survey …

apply at a stochastic number of suitable vacancies. Equilibrium is not constrained efficient; entry is excessive and search … account for the empirical relation between the job-finding rate and the vacancy-unemployment ratio, provided that search costs …

. This model yields a simple relationship between (i) the unemployment rate, (ii) the value of non-market time, and (iii) the … and allow for measurement error. The estimated wage dispersion and mismatch for the US is consistent with an unemployment …

The Beveridge curve depicts a negative relationship between unemployed workers and job vacancies, a robust finding …. The Beveridge curve depicts the steady state of the model, whereby inflows into unemployment are equal to the outflows …

wages of displaced German workers after they returned to work. We also present a simple new method to decompose the wage … wages of displaced workers after their return to work. Women experienced smaller wage losses than men.For both sexes, over …-displacement wages …

Wages are only mildly cyclical, implying that shocks to labour demand have a larger short-run impact on unemployment … rather than wages, at odds with the quantitative predictions of the canonical search model – even if wages are only … reservation wages, and consider an alternative reservation wage model based on reference dependence in job search. This extension …

Typical measures of wages, such as average hourly earnings, fail to capture cyclicality in the effective cost of labor … in the presence of (i) cyclical fluctuations in the quality of worker-firm matches, or (ii) wages being smoothed within … recession affects user cost: It lowers the new-hire wage; it lowers wages going forward in the match; but it also results in …

We analyze changes in unemployment, marginal labor force attachment and participation in Canada and the U.S.. Using two … complementary decompositions, we show the importance for the comparative evolution of aggregate unemployment of changes in the … fraction of the non-employed who are unemployed and in the fraction of the unemployed who 'want work'. Using microdata we study …