Michau, Jean-Baptiste - In: Review of Economic Dynamics 16 (2013) 4, pp. 691-707
This paper studies the consequences of creative destruction on unemployment in a frictional labor market with on-the-job search. For a benchmark calibration, a 1% increase in growth raises the unemployment rate by 1.72 percentage points in the economy without on-the-job search and by only 0.07...