This paper shows that a search and matching model with idiosyncratic training cost shocks can explain the asymmetric … movement of the job-finding rate over the business cycle and the decline of matching efficiency in recessions. Large negative … tightness. Our model explains a large fraction of the matching efficiency decline during the Great Recession and generates state …

This paper shows that the matching function and the Beveridge curve in the United States exhibit strong nonlinearities … over the business cycle. These patterns can be replicated by enhancing a search and matching model with idiosyncratic …

This paper shows that the matching function and the Beveridge curve in the United States exhibit strong nonlinearities … over the business cycle. These patterns can be replicated by enhancing a search and matching model with idiosyncratic …

This paper shows that the matching function and the Beveridge curve in the United States exhibit strong nonlinearities … over the business cycle. These patterns can be replicated by enhancing a search and matching model with idiosyncratic …

negative time trend in estimated matching functions. In addition, the full nonlinear combined model generates highly asymmetric …

In a reasonably calibrated Mortensen and Pissarides matching model, shocks to average labor productivity can account …

This paper argues that the canonical search-and-matching model cannot generate the observed cyclical asymmetry of the …

characterization has been made when matching is parameterized by a Cobb--Douglas technology. For a canonical DMP model, I (1 …) characterize responses of unemployment to productivity changes for a general matching technology; and (3) show how a matching …