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

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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