In a two-sector, general-equilibrium model with labor-market search frictions, we find that wage increases and sectoral … unemployment decreases upon offshoring in the presence of perfect intersectoral labor mobility. If, as a result, labor moves to the … sector with the lower (or equal) vacancy costs, there is an unambiguous decrease in economywide unemployment. With imperfect …

labor markets. Upon a neutral shock, total unemployment decrease is two-staged: firstly with a reduction in unskilled … unemployment, and then due to a sharp decline of skilled unemployment when skill substitution dominates. A higher elasticity of …

little employment protection and low unemployment benefits, while the European model (generous benefits and higher duration … more efficient. In terms of transaction costs, the US pay on average higher search/hiring costs in the labor market, and …

We build an analytically and computationally tractable stochastic equilibrium model of unemployment in heterogeneous … labor markets. Facing search frictions within markets and reallocation frictions between markets, workers endogenously … countercyclical unemployment, and is simultaneously consistent with procyclical reallocation, countercyclical separations and a …

We build an analytically and computationally tractable stochastic equilibrium model of unemployment in heterogeneous … labor markets. Facing search frictions within markets and reallocation frictions between markets, workers endogenously … countercyclical unemployment, and is simultaneously consistent with procyclical reallocation, countercyclical separations and a …

We build an analytically and computationally tractable stochastic equilibrium model of unemployment in heterogeneous … labor markets. Facing search frictions within markets and reallocation frictions between markets, workers endogenously … countercyclical unemployment, and is simultaneously consistent with procyclical reallocation, countercyclical separations and a …

Existing unemployment insurance systems in many OECD countries involve a ceiling on insurable earnings. The result is … decrease as the level of earnings rises. The framework is a search equilibrium model where wages are determined by Nash … bargaining between firms and workers, job search intensity is endogenous and workers are heterogeneous. The analysis suggests …

We analyse an equilibrium labour market with on-the-job search and experience effects (where workers learn …

market with heterogeneous firms, on-the-job search and accumulation of specific and general human capital. Jobs are destroyed …