vacancies on the other hand, which is observationally equivalent to a constant return Cobb-Douglas function commonly used to … model match formation. We use German administrative labor market data to show that the matching function correlation solely … based on idiosyncratic productivity and free entry is very close to the empirical matching function. Consequently, we argue …

vacancies on the other hand, which is observationally equivalent to a constant returns Cobb-Douglas function commonly used to … model match formation. We use German administrative labor market data to show that the matching function correlation solely … based on idiosyncratic productivity and free entry is very close to the empirical matching function. Consequently, we argue …

comovement between matches, unemployment, and vacancies in dynamic labor market models: either by assuming a standard Cobb … negative time trend in estimated matching functions. In addition, the full nonlinear combined model generates highly asymmetric …

This paper shows that a search and matching model with idiosyncratic training cost shocks can explain the asymmetric … movement of the job-finding rate over the business cycle and the decline of matching efficiency in recessions. Large negative … tightness. Our model explains a large fraction of the matching efficiency decline during the Great Recession and generates state …

In the standard macroeconomic search and matching model of the labor market, there is a tight link between the … tight link is at odds with the empirical literature. We show that a two-sided model of labor market search where the … households' work incentives and the firms' employment incentives within the search process. …

In the standard macroeconomic search and matching model of the labor market, there is a tight link between the … tight link is at odds with the empirical literature. We show that a two-sided model of labor market search where the … households' work incentives and the firms' employment incentives within the search process. …

This paper presents a theory explaining the labor market matching process through microeconomic incentives. There are … quit decisions. This approach obviates the need for a matching function. On this theoretical basis, we argue that the … matching function is vulnerable to the Lucas critique. Our calibrated model for the U.S. economy can account for important …

This paper presents a theory explaining the labor market matching process through microeconomic incentives. There are … quit decisions. This approach obviates the need for a matching function. On this theoretical basis, we argue that the … matching function is vulnerable to the Lucas critique. Our calibrated model for the U.S. economy can account for important …