Please use this identifier to cite or link to this item:
https://hdl.handle.net/2440/103700
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dc.contributor.author | Furlanetto, F. | - |
dc.contributor.author | Groshenny, N. | - |
dc.date.issued | 2016 | - |
dc.identifier.citation | Journal of Applied Econometrics, 2016; 31(7):1197-1214 | - |
dc.identifier.issn | 0883-7252 | - |
dc.identifier.issn | 1099-1255 | - |
dc.identifier.uri | http://hdl.handle.net/2440/103700 | - |
dc.description.abstract | We investigate the macroeconomic consequences of .uctuations in the effectiveness of the labor-market matching process with a focus on the Great Recession. We conduct our analysis in the context of an estimated medium-scale DSGE model with sticky prices and equilibrium search unemployment that features a shock to the matching efficiency (or mismatch shock). We find that this shock is almost irrelevant for unemployment fluctuations in normal times. However, it plays a somewhat larger role during the Great Recession when it contributes to raise the actual unemployment rate by 1.25 percentage points and the natural rate by 2 percentage points. Moreover, it is the only shock that generates a positive conditional correlation between unemployment and vacancies. | - |
dc.description.statementofresponsibility | Francesco Furlanetto, and Nicolas Groshenny | - |
dc.language.iso | en | - |
dc.publisher | Wiley | - |
dc.rights | Copyright © 2016 John Wiley & Sons, Ltd. | - |
dc.source.uri | http://dx.doi.org/10.1002/jae.2498 | - |
dc.subject | Search and matching frictions | - |
dc.subject | Unemployment | - |
dc.subject | Natural rates. | - |
dc.title | Mismatch shocks and unemployment during the great recession | - |
dc.type | Journal article | - |
dc.identifier.doi | 10.1002/jae.2498 | - |
pubs.publication-status | Published | - |
dc.identifier.orcid | Groshenny, N. [0000-0002-2256-1621] | - |
Appears in Collections: | Aurora harvest 7 Economics publications |
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RA_hdl_103700.pdf Restricted Access | Restricted Access | 358.18 kB | Adobe PDF | View/Open |
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