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In this paper we investigate the quantitative importance of search and matching fric- tions in Bulgarian labor markets …
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, not equilibrium itself is studied. As a result, price rigidities and unemployment fluctuations are consequences of … maximize intertemporal social utility. Thus, we investigate the causes of price rigidities and unemployment fluctuations that … sectors. The reductions (increases) of factors demanded result in unemployment (vacancy) immediately after the price …
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Many stylized facts of leverage, trading, and asset prices obtain in a frictionless general equilibrium model that features agents' heterogeneity in endowments and habit preferences. Our model predicts that aggregate debt increases in expansions when asset prices are high, volatility is low, and...
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