English, Article, Journal or magazine article edition: Why Did the Average Duration of Unemployment Become So Much Longer? Toshihiko Mukoyama; Aysegul Sahin

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Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Why did the average duration of unemployment become so much longer?
Author
  • Toshihiko Mukoyama
  • Aysegul Sahin
Physical Description
  • preprint
Notes
  • This paper examines the causes of the observed increase in the average unemployment duration over the past thirty years. First we analyze if changes in the demographic com- position of the U.S. labor force can explain this increase. In particular, we examine how much of the observed change can be explained by the change in age and gender compo- sition. We then consider institutional changes, such as the change in the generosity and coverage of unemployment insurance. Changes in the composition of the labor force and institutional changes can only partially account for the observed increase in the duration of unemployment. We construct a job search model and calibrate it to the U.S. data. The results indicate that more than 70% of the increase in the duration of unemployment over the last thirty years can be explained by an increase in within-group wage inequality.
  • Unemployment Duration, Demographic Change, Within-Group Wage In-equality, Job Search Model
  • RePEc:crd:wpaper:04002
  • This paper examines the causes of the observed increase in the average duration of unemployment over the past thirty years. First we analyze whether changes in the demographic composition of the U.S. labor force, particularly the age and gender composition, can explain this increase. We then consider the contribution of institutional changes, such as the change in the generosity and coverage of unemployment insurance. We find that changes in the composition of the labor force and institutional changes can only partially account for the longer duration of unemployment. We construct a job search model and calibrate it to U.S. data. The results indicate that more than 70 percent of the increase in the duration of unemployment over the past thirty years can be attributed to an increase in within-group wage inequality.
  • Unemployment ; Labor market ; Demography ; Unemployment insurance
  • RePEc:fip:fednsr:194
Language
  • English
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