The search and matching model has recently come under criticism for its inability to account for some of the cyclical properties of the U.S. labor market. Shimer (2005) has shown that the basic version of the model is incapable of reproducing the volatility of the market tightness for reasonable...

This paper outlines a simple regression-based method to decompose the variance of an aggregate time series into the variance of its components, which is then applied to measure the relative contributions of productivity, hours per worker, and employment to cyclical output growth across a panel...

We construct worker flows for the Japanese labor market in an internationally comparable manner, and study the consequences of the deep and lasting recession of the 1990s in the Japanese labor market. We analyze the changes in employment, unemployment and inactivity, as well as the worker flows...