Davis, Steven J.; Faberman, Jason; Haltiwanger, John C.; … - 2015
parameter in search and matching models of unemployment. According to these models, a lower intensity of idiosyncratic shocks …Unemployment inflows fell from 4 percent of employment per month in the early 1980s to 2 percent or less by the mid … produces less job destruction, fewer workers flowing through the unemployment pool and less frictional unemployment. To …