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"This paper reevaluates the quantitative performance of the standard labor-market matching model developed by Mortensen and Pissarides with special attention to the behavior of vacancies, one of the key variables in the model. I first estimate trivariate vector autoregressions with gross worker...
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causes of the unemployment upturn in 1973-1983 and the subsequent decline in 1993-2006. Our results show that (i) the main … determinants of the unemployment rise in the 1970s and early 1980s were wage-push factors, the two oil price shocks and the … increase in interest rates, and (ii) the acceleration in capital accumulation was the crucial driving force of unemployment in …
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Labour shortages combined with persistent large-scale unemployment are attracting increasing attention from actors and … revival after years of crisis and unemployment, indicating a mismatch between labour supply and demand. Basically, they result …
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Sociological research on labor markets has focused most of its attention on the supply side of the labor market, that is, the characteristics of job seekers and job incumbents. Despite its pivotal and we believe primary role in labor market processes, the demand side, in particular the hiring...
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Four years after the beginning of the Great Recession, the labor market remains historically weak. Many observers have concluded that "structural" impediments to recovery bear some of the blame. This paper reviews such structural explanations. I find that there is little evidence supporting...
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) Downward and upward occupational switching increased by 17% and 4%, respectively. (2) Transitions to unemployment increased by …
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