To explain the high and persistent unemployment rate in the United States during and after
the Great Recession, this effort develops and estimates a dynamic stochastic general …

This paper argues that the canonical search-and-matching model cannot generate the
observed cyclical asymmetry of the unemployment rate. In the United States, the …

We investigate the macroeconomic consequences of fluctuations in the effectiveness of the
labor market matching process with a focus on the Great Recession. We conduct our …

I argue that the textbook search‐and‐matching model cannot generate the observed cyclical
asymmetry in the unemployment rate. In the United States, the unemployment rate rises …

Worker flows to and from unemployment simultaneously occur over the US business cycle,
and the size of the flows is positively linked to the unemployment rate. Unemployment flows …

We investigate the welfare cost of business cycles implied by matching frictions. First, using
the reduced form of the matching model, we show that job finding rate fluctuations generate …

We enrich a baseline real business cycle (RBC) model with search and matching frictions on
the labour market and real frictions that are helpful in accounting for the response of …

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 …

This article builds and estimates a medium scale, small open economy DSGE model
augmented with search-and-matching frictions in the labor market, and different wage …

We quantify the contribution of labor market reforms to unemployment dynamics in nine
OECD countries (Australia, France, Germany, Japan, Portugal, Spain, Sweden, UK, US). We …