Shimer (2005) showed that a standard search and matching model of the labor market fails to generate fluctuations of … unemployment and vacancies of the magnitude observed in US data in response to shocks to average labor productivity of plausible … response of unemployment and vacancies to a shock to average labor productivity. In light of these properties, cast in terms of …

search with observed U.S. time series measures on employment, vacancies, and aggregate output to uncover the cyclical … inversely related to the degree of mismatch in the pool of searching workers and vacancies, given numbers of each, and identify … its movements as scalar shifts in the standard matching function. Given that the model exactly reconciles observed net …

This paper studies amplification of productivity shocks in labor markets through on-the-job-search. There is incomplete … for on-the-job search. Amplification arises because productivity changes not only affect firms' probability of contacting … labor productivity in the U.S. show that standard deviations for unemployment, vacancies and market tightness (vacancy …

because of credit constraints and capital (re)allocation is costly due to search frictions and capital specificity. Compared …