Instability and indeterminacy in a simple search and matching model

Michael Krause; Thomas Lubik

We demonstrate the possibility of indeterminacy and non-existence of equilibrium dynamics in a standard business cycle model with search and matching frictions in the labor market. Our results arise for empirically plausible parametrizations and do not rely upon a mechanism such as increasing returns. -- Search and matching ; indeterminacy ; match elasticity

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Year of publication:	2010
Authors:	Krause, Michael ; Lubik, Thomas A.
Publisher:	Frankfurt, M. : Dt. Bundesbank
Subject:	Konjunkturtheorie \| Business cycle theory \| Stabilität eines Gleichgewichts \| Stability of equilibrium \| Arbeitsmarktflexibilität \| Labour market flexibility \| Arbeitsuche \| Job search \| Matching \| Theorie \| Theory

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Extent:	Online-Ressource (PDF-Datei: 25 S., 324 KB) graph. Darst.
Series:	Discussion paper / Deutsche Bundesbank. - Frankfurt, M. : Dt. Bundesbank, ZDB-ID 2125061-3.
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Arbeitspapier ; Working Paper ; Graue Literatur ; Non-commercial literature
Language:	English
Notes:	Zsfassungen in dt. und engl. Sprache Systemvoraussetzungen: Acrobat Reader
ISBN:	978-3-86558-667-4 ; 978-3-86558-666-7
Other identifiers:	hdl:10419/43864 [Handle]
Classification:	E24 - Employment; Unemployment; Wages ; E32 - Business Fluctuations; Cycles ; J64 - Unemployment: Models, Duration, Incidence, and Job Search
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10008779851