This paper analyses how labour market heterogeneity affects unemployment, productivity and business cycle dynamics that … skilled workers increases the natural rate of unemployment and reduces total factor productivity with long- run effects on the … Beveridge curves. Skill-specific labour market heterogeneity leads to a attening of the Phillips curve as wages and unemployment …

for immigrants than for natives: a one percentage point increase in the unemployment rate is associated with a 0.61 and 0 …

I show that individuals whose unemployment risk tends to increase more when local home prices fall optimally invest … increase in the covariance between individually estimated unemployment risks and local home prices implies an average increase …