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In Frictionlandia, the monthly job separation rate is s = 0.1 and the monthly job-nding rate is f = 0.2 per month. A website that

In Frictionlandia, the monthly job separation rate is s = 0.1 and the monthly job-nding rate is f = 0.2 per month. A website that allows jobseekers to post their CVs online is established, which increases f to 0.35. Find the steady-state unemployment rate before (u 1) and after (u 2) the website was established.

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