G2TT
来源类型Discussion paper
规范类型论文
来源IDDP10489
DP10489 The Fundamental Surplus in Matching Models
Thomas Sargent; Lars Ljungqvist
发表日期2015-03-15
出版年2015
语种英语
摘要To generate big responses of unemployment to productivity changes, researchers have reconfigured matching models in various ways: by elevating the utility of leisure, by making wages sticky, by assuming alternating-offer wage bargaining, by introducing costly acquisition of credit, or by positing government mandated unemployment compensation and layoff costs. All of these redesigned matching models increase responses of unemployment to movements in productivity by diminishing the fundamental surplus fraction, an upper bound on the fraction of a job's output that the invisible hand can allocate to vacancy creation. This single common channel unites analyses of business cycle and welfare state dynamics.
主题International Macroeconomics ; Labour Economics
关键词Business cycle Fundamental surplus Market tightness Matching model Unemployment Volatility Welfare state
URLhttps://cepr.org/publications/dp10489
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/539321
推荐引用方式
GB/T 7714
Thomas Sargent,Lars Ljungqvist. DP10489 The Fundamental Surplus in Matching Models. 2015.
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