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The Cyclical Behavior of Equilibrium Unemployment and Vacancies
This paper argues that the textbook search and matching model cannot generate the observed business-cycle-frequency fluctuations in unemployment and job vacancies in response to shocks of a plausibleExpand
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Reassessing the Ins and Outs of Unemployment
This paper uses readily accessible data to measure the probability that an employed worker becomes unemployed and the probability that an unemployed worker finds a job, the ins and outs ofExpand
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Efficient Unemployment Insurance
This paper constructs a tractable general equilibrium model of search with risk aversion. An increase in risk aversion reduces wages, unemployment, and investment. Unemployment insurance has theExpand
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Holdups and efficiency with search frictions
A natural holdup problem arises in a market with search frictions: firms have to make a range of investments before finding their employees, and larger investments translate into higher wages. InExpand
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Adverse Selection in Competitive Search Equilibrium
We extend the concept of competitive search equilibrium to environments with private information, and in particular adverse selection. Principals (e.g. employers or agents who want to buy assets)Expand
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Productivity Gains from Unemployment Insurance
This paper argues that unemployment insurance increases labor productivity by encouraging workers to seek higher productivity jobs, and by encouraging firms to create those jobs. We use aExpand
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Assortative Matching and Search
This paper has pushed Becker's matching insights into a quite plausible search setting. Exploiting the implicit integral equation (10), we gave a thorough characterization of cross-sectional matchingExpand
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The Impact of Young Workers on the Aggregate Labor Market
This paper estimates the response of the unemployment rate and labor force participation rate to exogenous variation in the youth share of the working age population, using cross-state variation inExpand
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The cyclicality of hires, separations, and job-to-job transitions
This paper measures the job-finding, separation, and job-to-job transition rates in the United States from 1948 to 2004. The job-finding and job-to-job transition rates are strongly procyclical andExpand
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EÆcient Unemployment Insurance
This paper constructs a tractable general equilibrium model of search with risk-aversion. An increase in risk-aversion reduces wages, unemployment and investment. Unemployment insurance (UI) has theExpand
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