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.S. manufacturing industry, and it finds evidence of asymmetry. Tight policy increases job destruction and reduces net employment …
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paper is threefold: first, we show that the model provides a good fit for employment and unemployment volatility, as well as … volatility of employment and unemployment. Finally, we show the role of search costs in shaping those results. -- matching …
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In this paper, we provide compelling evidence that cyclical factors account for the bulk of the post-2007 decline in the U.S. labor force participation rate. We then proceed to formulate a stylized New Keynesian model in which labor force participation is essentially acyclical during “normal...
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employment fluctuations are small. This paper augments a standard New Keynesian model with a labor market featuring …
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