Hawkins, William B.; Acemoglu, Daron - In: Theoretical Economics 9 (2014) 3, pp. 583-628
unemployment ratio to a shock to labor productivity can be somewhat more persistent than in the Mortensen-Pissarides benchmark …We present a generalization of the standard random-search model of unemployment in which firms hire multiple workers … investigation of the out-of-steady state dynamics of our model. We find that the responses of unemployment and of the vacancy to …