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An accurate global projection algorithm is critical for quantifying the basic moments of the Diamond-Mortensen-Pissarides (DMP) model. Loglinearization understates the mean and volatility of unemployment, but overstates the volatility of labor market tightness and the magnitude of the...
Persistent link: https://www.econbiz.de/10012967498
An accurate global algorithm is crucial for quantifying the dynamics of the Diamond-Mortensen-Pissarides model. Loglinearization understates the mean and volatility of unemployment, overstates the unemployment-vacancy correlation, and ignores impulse responses that are an order of magnitude...
Persistent link: https://www.econbiz.de/10013063611
Persistent link: https://www.econbiz.de/10014391263
Persistent link: https://www.econbiz.de/10009777763
An accurate global algorithm is critical for quantifying the dynamics of the Diamond-Mortensen-Pissarides model. Loglinearization understates the mean and volatility of unemployment, overstates the unemployment-vacancy correlation, and ignores impulse responses that are an order of magnitude...
Persistent link: https://www.econbiz.de/10012459455
Persistent link: https://www.econbiz.de/10012602965
An accurate global algorithm is critical for quantifying the dynamics of the Diamond-Mortensen-Pissarides model. Loglinearization understates the mean and volatility of unemployment, overstates the unemployment-vacancy correlation, and ignores impulse responses that are an order of magnitude...
Persistent link: https://www.econbiz.de/10013079210