Gomme, Paul; Lkhagvasuren, Damba - Department of Economics, Concordia University - 2011
Reasonably calibrated versions of the Diamond-Mortensen-Pissarides search and matching model of unemployment … underpredict, by a wide margin, the volatility of vacancies, unemployment, and the vacancies-unemployment ratio - variables at the … are determined via competitive search (wage posting by firms along with directed search on the part of workers) rather …