This paper theoretically and empirically documents a puzzle that arises when an RBC economy with a job matching function is used to model unemployment. The standard model can generate sufficiently large cyclical fluctuations in unemployment, or a sufficiently small response of unemployment to labor market policies, but it cannot do both. Variable search and separation, finite UI benefit duration, efficiency wages, and capital all fail to resolve this puzzle. However, either sticky wages or match-specific productivity shocks can improve the model’s performance by making the firm’s flow of surplus more procyclical, which makes hiring more procyclical too
Shimer (2005) argues that the standard random search model cannot generate the observed cyclical mov...
This paper examines the job search behavior of unemployed workers over the business cycle. The paper...
The paper develops a model of directed search on the job in which transitions of workers between une...
This paper theoretically and empirically documents a puzzle that arises when an RBC economy with a j...
This paper points out an empirical puzzle that arises when an RBC economy with a job matching functi...
We incorporate time to build and a stochastic value of home production- two stan-dard features of th...
The purpose of this paper is twofold. First, it reviews the model of search and matching equilibrium...
International audienceWe investigate the welfare cost of business cycles implied by matching frictio...
In this paper, we investigate whether business cycles can imply sizable effects on average unemploym...
T he state of the labor market, employment and unemployment, playsan important role in the deliberat...
he state of the labor market, employment and unemployment, plays an important role in the deliberati...
T he state of the labor market, employment and unemployment, playsan important role in the deliberat...
This dissertation attempts to construct an explicit theory of unemployment. The basic framework is a...
We develop an empirical search-matching model with productivity shocks so as to analyze policy inter...
Two papers have recently questioned the quantitative consistency of the search and matching model. S...
Shimer (2005) argues that the standard random search model cannot generate the observed cyclical mov...
This paper examines the job search behavior of unemployed workers over the business cycle. The paper...
The paper develops a model of directed search on the job in which transitions of workers between une...
This paper theoretically and empirically documents a puzzle that arises when an RBC economy with a j...
This paper points out an empirical puzzle that arises when an RBC economy with a job matching functi...
We incorporate time to build and a stochastic value of home production- two stan-dard features of th...
The purpose of this paper is twofold. First, it reviews the model of search and matching equilibrium...
International audienceWe investigate the welfare cost of business cycles implied by matching frictio...
In this paper, we investigate whether business cycles can imply sizable effects on average unemploym...
T he state of the labor market, employment and unemployment, playsan important role in the deliberat...
he state of the labor market, employment and unemployment, plays an important role in the deliberati...
T he state of the labor market, employment and unemployment, playsan important role in the deliberat...
This dissertation attempts to construct an explicit theory of unemployment. The basic framework is a...
We develop an empirical search-matching model with productivity shocks so as to analyze policy inter...
Two papers have recently questioned the quantitative consistency of the search and matching model. S...
Shimer (2005) argues that the standard random search model cannot generate the observed cyclical mov...
This paper examines the job search behavior of unemployed workers over the business cycle. The paper...
The paper develops a model of directed search on the job in which transitions of workers between une...