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This paper examines the labour market matching process by distinguishing its two component stages: the contact stage … account for important empirical regularities that the conventional matching model cannot. …
Persistent link: https://www.econbiz.de/10008492138
Persistent link: https://www.econbiz.de/10000976513
This paper offers a reappraisal of the inflation-unemployment tradeoff, based on ?frictional growth,? describing the interplay between nominal frictions and money growth. When the money supply grows in the presence of price inertia (due to staggered wage contracts with time discounting), the...
Persistent link: https://www.econbiz.de/10008520206