Krause, Michael (contributor); Lubik, Thomas A. (contributor) - 2004 - [Elektronische Ressource]
large productivity shocks. In particular,
the standard framework underpredicts the volatility of vacancies and unemployment … technology shocks. Since we calibrate the variance
of technology shocks to match the volatility of U.S. GDP we only evaluate the … measure is substantially less volatile.
The volatility of the quit rate comes very close to what is observed in the data, a …