unemployment. I estimate a version of the MP model with wage rigidity and permanent shocks to match productivity. The model … generates sufficient volatility in unemployment, vacancies, job-finding and job-separation despite relatively low worker outside … estimation procedure finds the best fitting model, the model predicts too little variance in unemployment and too much variance …

frictions and unemployment insurance, when the latter is only imperfectly related to search effort. A balanced social insurance … volatility and persistence of vacancies and unemployment. …

In the past decades several features of U.S. unemployment dynamics have been investigated empirically. The original … focus of research was on the duration of unemployment. In later studies the cyclicality of incidence and duration …, compositional effects and duration dependence of the exit rate out of unemployment have been investigated. Unlike the partial …

Private consumption demand falls in response to increased unemployment risk during a recession, as households increase … unemployment risk is more important than realized unemployment shocks in accounting for durable expenditure dynamics during … recessions, while the opposite is true for nondurables. The importance of anticipation of future unemployment risk also means …

unemployment insurance, when the latter is only imperfectly related to search effort. A balanced social insurance budget renders … persistence of vacancies and unemployment. …

frictions and unemployment insurance, when the latter is only imperfectly related to search effort. A balanced social insurance … volatility and persistence of vacancies and unemployment. …

In the past decades several features of U.S. unemployment dynamics have been investigated empirically. The original … focus of research was on the duration of unemployment. In later studies the cyclicality of incidence and duration …, compositional effects and duration dependence of the exit rate out of unemployment have been investigated. Unlike the partial …

procyclical unemployment and a positively-sloped Beveridge curve. This paper presents a calibrated model which does indeed … generate countercyclical unemployment and a negatively-sloped Beveridge curve despite the presence of a participation margin. …

Economists face difficulties explaining the strong cyclicality of US unemployment. This paper contributes both by … unemployment, and the results suggest an upper bound on how far they can go in explaining unemployment cyclicality. …

of unemployment and vacancies to negative shocks to the aggregate productivity of labor. …