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Recent work has demonstrated that existing solutions of the unemployment volatility puzzle are at odds with the …. Our model reproduces the observed fluctuations in unemployment because hiring a worker is a risky investment with long … therefore greatly declines, leading to a large decrease in job vacancies and an increase in unemployment of the same magnitude …
Persistent link: https://www.econbiz.de/10012938763
Recent critiques have demonstrated that existing attempts to account for the unemployment volatility puzzle of search … reproduces the observed fluctuations in unemployment because hiring a worker is a risky investment with long-duration surplus … benefit from creating new matches greatly drops, leading to a large decline in job vacancies and an increase in unemployment …
Persistent link: https://www.econbiz.de/10012480524