We introduce a novel estimator for the number of common dynamic shocks for large dynamicfactor models. The noticeable feature of our estimator is that it can be applied to single frequencies as well as to given frequency bands, making it extremely suited to disentangle the shocks a acting the...

We set-up a real business cycle model with search and matching frictions driven by several shocks, which nests full Nash Bargaining and wage rigidity as special cases and includes other transmission mechanisms suggested by the literature for the propagation and amplification of disturbances. The...