Cairó, Isabel; Fujita, Shigeru; Morales-Jiménez, Camilo - 2018
market states, the unemployment rate, and the labor force participation rate, while using values of elasticities consistent …REVISED MARCH 2019 Using a representative-household search and matching model with endogenous labor force participation … participation flows. Our model successfully replicates salient business-cycle features of all transition rates between three labor …