both the vacancy-unemployment ratio and employment. We show that the standard version of the Mortensen-Pissarides matching …

workers only know the distribution of productivity in the economy. Although there is unemployment in equilibrium, the labor … equilibrium wage, while an increae in average productivity or a reduction in the variance reduces unemployment. It follows that if … recessions are chararacterized by low average productivity and a high variance, the model can explain large (un)employment …

We introduce a joint model of labor market search and firm size dynamics to explain the differential in labor market … search model by Mortensen and Pissarides (1994) and the model of the size distribution firms by Lucas (1978). Around this …

separation rate, and vacancies to monetary policy shocks. I develop a general equilibrium model that can account for the large … and persistent responses of vacancies, the job finding rate, the smaller but distinct response of the separation rate, and … rigidities. Special attention is paid to the role of different propagation mechanisms and the impact of search frictions on …