Rogerson, Richard; Shimer, Robert - In: Handbook of labor economics : volume 4, part A, (pp. 619-700). 2011
This chapter assesses how models with search frictions have shaped our understanding of aggregate labor market outcomes in two contexts: business cycle fluctuations and long-run (trend) changes. We first consolidate data on aggregate labor market outcomes for a large set of OECD countries. We...