During the typical recovery from U.S. post-War period economic downturns, employment recovers to its pre …-recession level within months of the output trough. However, during the last two recoveries, employment has taken up to two years to …

plausibly calibrated hiring costs, employment gradually rises in response to positive TFP news shocks even under standard … preferences. TFP news shocks are identified mainly by current and expected unemployment rates since periods in which average … unemployment is relatively high (low) are also periods in which average TFP growth is slow (fast). We work out the noise component …

unemployment in two largest economic regions in the world - the United States (US) and the Euro area (EA). For this purpose we … addition to local effects we find foreign uncertainty shocks influence the Euro area but not the US unemployment. Moreover we …

In this paper, we aim to provide a comprehensive view of the unemployment dynamics generated by different structural … shocks. We show that the relative contribution of the job finding and separation rates to the unemployment dynamics depends … contribution of the two transition rates to the volatility of unemployment, whereas the search shock implies a disproportionate …