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On the heterogeneous impacts of the COVID-19 lockdown on US unemployment

Abstract : We develop a matching model that predicts the impact of the COVID-19 lockdown on US unemployment, while accounting for the contrasted impacts across various job types. The model is calibrated on the subprime experience and is then used to identify the job-specific lockdown shocks, using observed worker flows by diploma. The model persistence-which is significantly larger than in the Diamond-Mortensen-Pissarides model-is dampened by CARES act that facilitates the use of temporary separations. Counterfactual experiments show that time-varying risk, hiring cost externalities, and wage rigidity are needed to account for these crises.
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Preprints, Working Papers, ...
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https://hal.archives-ouvertes.fr/hal-03107369
Contributor : Constantin Ilasca <>
Submitted on : Tuesday, January 12, 2021 - 3:07:06 PM
Last modification on : Tuesday, January 26, 2021 - 10:31:49 AM
Long-term archiving on: : Tuesday, April 13, 2021 - 6:42:58 PM

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  • HAL Id : hal-03107369, version 1

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Malak Kandoussi, François Langot. On the heterogeneous impacts of the COVID-19 lockdown on US unemployment. 2021. ⟨hal-03107369⟩

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