The DOI matches its Crossref record; 3 of the 3 references it cites were found in a registry or an index.
Business cycles, unemployment insurance, and the calibration of matching models
Open accessAbstract
This paper theoretically and empirically documents a puzzle that arises when an RBC economy with a job matching function is used to model unemployment. The standard model can generate sufficiently large cyclical fluctuations in unemployment, or a sufficiently small response of unemployment to labor market policies, but it cannot do both. Variable search and separation, finite UI benefit duration, efficiency wages, and capital all fail to resolve this puzzle. However, either sticky wages or match-specific productivity shocks can improve the model's performance by making the firm's flow of surplus more procyclical, which makes hiring more procyclical too.
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Citations
Cites
Initial conditions and moment restrictions in dynamic panel data models
Blundell, R., & Bond, S. (1998) · Journal of Econometrics · doi:10.1016/s0304-4076(98)00009-8 · Cited by 22,571
Initial conditions and moment restrictions in dynamic panel data models
Blundell, R., & Bond, S. (1995) · Working Paper Series · doi:10.1920/wp.ifs.1995.9517 · Cited by 14,755
Employment Fluctuations with Equilibrium Wage Stickiness
Hall, R. E. (2005) · American Economic Review · doi:10.1257/0002828053828482 · Cited by 1,439
Cited by
Search-Theoretic Models of the Labor Market: A Survey
Rogerson, R., Shimer, R., & Wright, R. (2005) · Journal of Economic Literature · doi:10.1257/002205105775362014 · Cited by 1,051
Recessions and the Costs of Job Loss
Davis, S. J., & von Wachter, T. (2011) · Brookings Papers on Economic Activity · doi:10.1353/eca.2011.0016 · Cited by 533
An Estimated Monetary DSGE Model with Unemployment and Staggered Nominal Wage Bargaining
GERTLER, M., SALA, L., & TRIGARI, A. (2008) · Journal of Money, Credit and Banking · doi:10.1111/j.1538-4616.2008.00180.x · Cited by 454
Unemployment Fluctuations With Staggered Nash Wage Bargaining
Gertler, M., & Trigari, A. (2006) · National Bureau of Economic Research · doi:10.3386/w12498 · Cited by 255
Metadata
- Authors
- Costain, J. S., & Reiter, M.
- Venue
- Journal of Economic Dynamics and Control
- Publisher
- Elsevier BV
- Published
- 2008-04
- Volume
- 32
- Issue
- 4
- Pages
- 1120-1155
- ISSN
- 0165-1889 (ISSN-L)
- OpenAlex
- W2162263065
- Cited by
- 335
- References
- 3
- FWCI
- 60.38
- Type
- journal article
- Language
- en
- Open access
- green
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Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
