Sargent, Thomas J.; Ljungqvist, Lars; Kitao, Sagiri - Society for Economic Dynamics - SED - 2009
To understand trans-Atlantic employment experiences in the post-World War II era, we enrich the environment of Ljungqvist and Sargent (2008) in ways that allow skill losses occasioned by involuntary job separations (`turbulence') to have further effects on labor market outcomes. Our model...