. JEL Classification: E24, E32, J31, J41, J64 Keywords: wage rigidity, search and matching model, business cycle …- tuations in the standard search and matching model. What matters for employment dynamics is not the aggregate wage in the … wage of newly hired workers out of unemployment to calibrate a search and matching model without on-the-job search. 3 …

This paper studies how well a simple search and matching model can describe aggregate Japanese labor market dynamics in … a full information setting. We develop a discrete-time search and matching model with a convex vacancy posting cost and …

, J64 Keywords: unemployment fluctuations, labor productivity, search and matching model, New- Keynesian model …;t 1 2 with > 0 and the steady-state level of in�ation. In a search and matching model of the labor market … evaluate the search and matching model. In the MP model, job creation is determined by the expected cost of labor which depends …

64, E32, E37, E52 Keywords: Unemployment Fluctuations, Labor productivity, Search and matching model, New … Mortensen-Pissarides (MP) search and matching model, an increase in productivity raises the surplus of a match between a �rm and … greatly the 12 In a search and matching model of the labor market, workers cannot be hired instanta- neously and must be …