a shock to the efficiency of the matching process (search shock). The two former shocks generate a quite balanced … model capture the possible shifts in the three conditions determining labor market equilibrium in any matching models … shock to the profitability of a match (the aggregate shock), a shock specific to the existing jobs (job-specific shock) and …

shock proxies on the estimated impulse responses from these SVAR models. We show via a Monte Carlo experiment that … uncertainty shock proxy as an instrument to identify the underlying shock does not suffer from this bias. Applying this proxy SVAR …

productivity shocks during periods with low aggregate productivity. A Diamond-Mortensen-Pissarides model with endogenous job … deviation of the job-transition rates explained by productivity shocks in the TVAR,and show that the model explains 88 percent … firm's reservation productivity level and the distribution of match-specific idiosyncratic productivity. Results are robust …