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Mortensen, Dale - 2007

A synthesis of the Lucas-Prescott island model and the Mortensen- Pissarides matching model of unemployment is studied …

Persistent link: https://www.econbiz.de/10012776360

Implications of Search Frictions : Matching Aggregate and Establishment-Level Observations

Cooper, Russell W. - 2013

This paper studies hours, employment, vacancies and unemployment at micro and macro levels. It is built around a set of facts concerning the variability of unemployment and vacancies in the aggregate and, at the establishment level, the distribution of net employment growth and the comovement of...

Persistent link: https://www.econbiz.de/10012753918

Dynamic Directed Random Matching

Duffie, Darrell - 2015

the matching-function approach) that are common in search-based models of financial markets, monetary theory, and labor … mutation, random matching with match-induced type changes, and with the potential for enduring partnerships that may have …

Persistent link: https://www.econbiz.de/10013011910

Risk, Unemployment, and the Stock Market : A Rare-Event-Based Explanation of Labor Market Volatility

Kilic, Mete - 2015

What is the driving force behind the cyclical behavior of unemployment and vacancies? What is the relation between job-creation incentives of firms and stock market valuations? We answer these questions in a model with time-varying risk, modeled as a small and variable probability of an economic...

Persistent link: https://www.econbiz.de/10013015095

Search and Rest Unemployment

Alvarez, Fernando - 2010

This paper extends Lucas and Prescott's (1974) search model to develop a notion of rest unemployment. The economy consists of a continuum of labor markets, each of which produces a heterogeneous good. There is a constant returns to scale production technology in each labor market, but labor...

Persistent link: https://www.econbiz.de/10012759557

Policy Analysis in a Matching Model with Intensive and Extensive Margins

Fang, Lei - 2010

population ratios and hours per worker. We imbed the canonical model of labor supply into a standard matching model to produce a …

Persistent link: https://www.econbiz.de/10012760222

Median Stable Matching

Schwarz, Michael - 2010

We define the median stable matching for two-sided matching markets with side payments and prove constructively that it …

Persistent link: https://www.econbiz.de/10012757924

Directed Search Over the Life Cycle

Menzio, Guido - 2012

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 …

Persistent link: https://www.econbiz.de/10013112417

The Cyclical Behavior of Equilibrium Unemployment and Vacancies in the Us and Europe

Justiniano, Alejandro - 2012

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 …

Persistent link: https://www.econbiz.de/10013114011

Information Percolation in Segmented Markets

Duffie, Darrell - 2011

We calculate equilibria of dynamic double-auction markets in which agents are distinguished by their preferences and information. Over time, agents are privately informed by bids and offers. Investors are segmented into groups that differ with respect to characteristics determining information...

Persistent link: https://www.econbiz.de/10013121588