are controlled for. However, the black-white homeownership gap disappears if differences in own and parental wealth and in …

This paper examines whether the Mortensen-Pissarides matching model can account for the housing market facts, most of …

We propose a flexible prices model where endogenous market structures and search and matching frictions in the labor … addressing the unemployment-volatility puzzle. Consistently with U.S. evidence, new firms create a large fraction of new jobs and …

We propose a flexible prices model where endogenous market structures and search and matching frictions in the labor … addressing the unemployment-volatility puzzle. Consistently with U.S. evidence, new firms create a large fraction of new jobs and …

vacancies through frictions in matching workers and firms and generate predictions that have the right direction: unemployment … matching models are the primary and most popular theoretical tools used by economists to evaluate various labour market … policies and to study the problem of unemployment. These models explain the co-existence in equilibrium of unemployment and …

losses they entail. However, countries that adopted such policies are also plagued by persistent unemployment, and debt … debt and (ii) the search and matching frictions in the labor market and quantifies the output and employment losses … instance, a 25% debt reduction yields a 50% increase in unemployment along the adjustment path. The paper also shows that …

housing investment without major reliance on a mortgage. The model also shows that the tenant, who suffers from insufficient … mortgage borrowings, can access cheaper rental housing via chonsei than when only monthly rental housing is available. The …