Giulio, NICOLETTI; Olivier, PIERRARD - Institut de Recherche Économique et Sociale (IRES), … - 2006
We augment a RBC model with capital and labor market frictions. We follow the approach of Wasmer and Weil (2004) which model market imperfections as search processes : firms must sequentially find a match with a bank first and then with a worker in order to start production. We show that the...