Hairault, Jean-Olivier; Zhutova, Anastasia - Institute for the Study of Labor (IZA) - 2014
a shock to the efficiency of the matching process (search shock). The two former shocks generate a quite balanced … model capture the possible shifts in the three conditions determining labor market equilibrium in any matching models … contribution of the two transition rates to the volatility of unemployment, whereas the search shock implies a disproportionate …