Instability and indeterminacy in a simple search and matching model

We demonstrate the possibility of indeterminacy and non-existence of equilibrium dynamics in a standard business cycle model with search and matching frictions in the labor market. Our results arise for empirically plausible parametrizations and do not rely upon a mechanism such as increasing returns.

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Year of publication:	2010
Authors:	Krause, Michael ; Lubik, Thomas A.
Publisher:	Frankfurt a. M. : Deutsche Bundesbank
Subject:	Konjunkturtheorie \| Gleichgewichtsstabilität \| Arbeitsmarktflexibilisierung \| Arbeitsuche \| Matching \| Theorie \| search and matching \| indeterminacy \| match elasticity

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Series:	Discussion Paper Series 1 ; 2010,25
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
ISBN:	978-3-86558-667-4
Other identifiers:	643808507 [GVK] hdl:10419/43864 [Handle] RePEc:zbw:bubdp1:201025 [RePEc]
Classification:	E24 - Employment; Unemployment; Wages ; E32 - Business Fluctuations; Cycles ; J64 - Unemployment: Models, Duration, Incidence, and Job Search
Source:	EconStor

Persistent link: https://www.econbiz.de/10010303900