Unemployment arises from frictions in the matching of job-seekers and employers. The level of resources that employers …

We present a picture of the labor market, one with large flows of jobs and workers, and matching. We develop a … determination of wages. We estimate the matching function, using both aggregate data and data from manufacturing and find evidence … of a stable matching process in the data. We examine the joint movements in unemployment, vacancies and wages -the …

We set-up a real business cycle model with search and matching frictions driven by several shocks, which nests full … probabilities observed in US, with mixed success in Europe. In contrast, matching shocks and job destruction shocks play a larger …

We use an estimated monetary business cycle model with search and matching frictions in the labor market and nominal … factors and reduced efficiency in labor market matching were largely responsible for the experience in the U.S. Financial … factors were also important in the U.K., but less so in Sweden and Germany. Reduced matching efficiency was considerably less …

facts can be explained by a search and matching model when firms are heterogenous with respect to productivity, are composed …

our theory using data on labor market transitions aggregated across workers of different ages. We validate our theory by … theory to decompose the age profiles of transition rates, wages and productivity into the effects of age variation in work …