employment and unemployment. We use a model that features both frictions and an operative labor supply margin to examine the … effects of frictions on steady state employment relative to the simplest matching model, and two common extensions. We also … find that the presence of empirically plausible frictions has virtually no impact on the response of aggregate employment …

frictions characterized by employment loss and employment opportunity arrival shocks. We argue that it is able to account for … shocks play a key role in allowing the model to match the persistence of the employment and out of the labor force states …

frictions characterized by employment loss and employment opportunity arrival shocks. We argue that it is able to account for … shocks play a key role in allowing the model to match the persistence of the employment and out of the labor force states …

employment and unemployment. We use a model that features both frictions and an operative labor supply margin to examine the … effects of frictions on steady state employment relative to the simplest matching model, and two common extensions. We also … find that the presence of empirically plausible frictions has virtually no impact on the response of aggregate employment …