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vanished, (ii) the relative volatility of employment has risen, and (iii) the relative (and absolute) volatility of the real …
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vanished, (ii) the relative volatility of employment has risen, and (iii) the relative (and absolute) volatility of the real …
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In this paper we use information on the cyclical variation of labor market participation to learn about the aggregate labor supply elasticity. For this purpose, we extend the standard labor market matching model to allow for endogenous participation. A model that is calibrated to replicate the...
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