This book focuses on the modeling of the transitions in and out of unemployment, given the
stochastic processes that break up jobs and lead to the formation of new jobs, and on the …

We survey the literature on search-theoretic models of the labor market. We show how this
approach addresses many issues, including the following: Why do workers sometimes …

We study real-efficiency implications of disclosing public information in a model with multiple
dimensions of uncertainty where market prices convey information to a real decision maker …

We describe and compare several algorithms for approximating the solution to a model in
which inequality constraints occasionally bind. Their performance is evaluated and …

We examine whether the Mortensen‐Pissarides matching model can account for the
business‐cycle facts on employment, job creation, and job destruction. A novel feature of our …

The labor search and matching model plays a growing role in macroeconomic analysis. This
paper provides a critical, selective survey of the literature. Four fundamental questions are …

In this paper I evaluate to what extent a real business cycle (RBC) model that incorporates
search and home production decisions can simultaneously account for the observed …

In this paper we construct a multisector business cycle model which is capable of
reproducing the procyclical behavior of cross-sector measures of capital, employment and …

Can a one-time, permanent change in the fundamentals behind the sectoral composition of
the economy prompt an aggregate downturn? Can this downturn be non-negligible, even if …

We examine whether the labor market search model can account for the business cycle facts
on the three uses of time: employment, unemployment and non-participation. The standard …