market sorting, and aggregate shocks. In response to a positive productivity shock, incentives to sort increase … disproportionately. Firms respond by posting additional vacancies, and the strength of the response is increasing in firm productivity …

quantitative effects of (i) aggregate productivity shocks on unemployment and (ii) unemployment benefits on unemployment. This … calibration of the model based on U.S. JOLTS data generates both a solid amplification of productivity shocks and a moderate …

it generates less than 10 percent of the observed business cycle fluctuations in unemployment given labor productivity … shocks of plausible magnitude. This paper argues that part of the problem lies with the identification of productivity shocks …. Because of the endogeneity of measured labor productivity, filtering out the trend component as in Shimer (2005) may not …

quantitative effects of (i) aggregate productivity shocks on unemployment and (ii) unemployment benefits on unemployment. This … calibration of the model based on U.S. JOLTS data generates both a solid amplification of productivity shocks and a moderate …