Groshenny, Nicolas; Furlanetto, Francesco - School of Economics, University of Adelaide - 2013
We investigate the macroeconomic consequences of fluctuations in the effectiveness of the labor-market matching process … with a focus on the Great Recession. We conduct our analysis in the context of an estimated medium-scale DSGE model with … larger role during the Great Recession when it contributes to raise the actual unemployment rate by 1.25 percentage points …