Understanding unemployment flows

Ekkehard Ernst and Uma Rani

Oxford Review of Economic Policy, 2011, vol. 27, issue 2, 268-294

Abstract: This article reviews the current state of research on unemployment dynamics in macroeconomic models. In particular, it discusses the increasingly widespread use of the labour-market flow approach as implemented via a search and matching process and presents main policy considerations that arise from this approach related to unemployment benefit systems and employment protection. It reviews the implications of the labour-flow approach for dynamic properties of macroeconomic models and discusses policy implications for macroeconomic and labour-market policies. Finally, it presents new evidence on the effectiveness of policies to influence unemployment in- and outflows. Copyright 2011, Oxford University Press.

Date: 2011
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