underlying theory is the search and matching model, with workers and firms engaging in costly search leading to random matching …. The Beveridge curve depicts the steady state of the model, whereby inflows into unemployment are equal to the outflows …

This paper presents a theory explaining the labor market matching process through microeconomic incentives. There are …

, Germany, and the United Kingdom, we document striking similarities in spatial differences in unemployment, vacancies, job … finding, and job filling within each country. This robust set of facts guides and disciplines the development of a theory of … quantitatively rationalizes why differences in job-separation rates have primary importance in inducing differences in unemployment …

density function with higher density and thereby generate large, asymmetric job-finding rate and unemployment reactions. Our …

This paper presents a theory explaining the labor market matching process through microeconomic incentives. There are …

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 … marginally attached displaying behavior lying between unemployment and non-attachment. The three non-employment states are …

We build an analytically and computationally tractable stochastic equilibrium model of unemployment in heterogeneous … countercyclical unemployment, and is simultaneously consistent with procyclical reallocation, countercyclical separations and a … negatively-sloped Beveridge curve. Moreover, the model exhibits unemployment duration dependence, which (when calibrated to long …