This paper is concerned with the business cycle dynamics in search-and-matching models of the labor market when agents … volatility of vacancies and unemployment. This channel can be relevant if the lack of insurance is large enough so that the … earnings variance and persistence in the unemployment state that result in a large degree of self-insurance …

-cycle-frequency fluctuations in unemployment and job vacancies, given shocks of a plausible magnitude. We use data on the cost of vacancy creation …

The labor search and matching model plays a growing role in macroeconomic analysis. This paper provides a critical …, selective survey of the literature. Four fundamental questions are explored: how are unemployment, job vacancies, and employment …

Standard search and matching models of equilibrium unemployment, once properly calibrated, can generate only a small … (reservation) wage paid. We show that in a large class of search and matching models this statistic (the mean-min ratio") can be …

-cycle-frequency fluctuations in unemployment and job vacancies, given shocks of a plausible magnitude. We use data on the cost of vacancy creation …

I study a dynamic search-matching model with two-sided heterogeneity, a production complementarity that induces labor …. The distribution of unemployment worker types adjusts slowly, which amplifies job creation in the short run. In the long … run, falling unemployment curtails the firms' vacancy posting. The model closely matches time-series moments from U …