Research Paper #2004-8
When job prospects are uncertain, labor market size matters even when labor and jobs, respectively, are homogenous. The expected unemployment duration and its standard deviation may then differ systematically with labor market size.
Digital Commons Citation
Schaeffer, Peter V. and Gebremedhin, Tesfa, "Labor Market Size and Unemployment Duration: A Theoretical Note" (2004). Regional Research Institute Publications and Working Papers. 118.