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| Author: | Ljungqvist, L. Sargent, T. J. |
| Title: | European unemployment and turbulence revisited in a matching model |
| Journal: | Journal of the European Economic Association
2004 : APR-MAY, VOL. 2:2-3, p. 456-468 |
| Index terms: | unemployment Europe |
| Freeterms: | turbulence |
| Language: | eng |
| Abstract: | den Haan, Haefke and Ramey's matching model is calibrated by the authors to incorporate their preferred specification of "turbulence" as causing distinct dynamics of human capital after voluntary and involuntary job losses. Under the autors' calibration, with high unemployment benefits, an increase in turbulence increases the unemployment rate and the duration of unemployment while leaving the inflow rate into unemployment roughly unchanged, mirroring features of European data in the 1980s and 1990s. |
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