Michaillat, Pascal; Saez, Emmanuel - In: The Quarterly Journal of Economics 130 (2015) 2, pp. 507-569
This article develops a model of unemployment fluctuations. The model keeps the architecture of the general-disequilibrium model of Barro and Grossman (1971) but takes a matching approach to the labor and product markets instead of a disequilibrium approach. On the product and labor markets,...