| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP14630 |
| DP14630 Volatile Hiring: Uncertainty in Search and Matching Models | |
| Wouter Den Haan; Pontus Rendahl; Lukas B. Freund | |
| 发表日期 | 2020-04-17 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | In search-and-matching models, the nonlinear nature of search frictions increases average unemployment rates during periods with higher volatility. These frictions are not, however, by themselves sufficient to raise unemployment following an increase in perceived uncertainty; though they may do so in conjunction with the common assumption of wages being determined by Nash bargaining. Importantly, option-value considerations play no role in the standard model with free entry. In contrast, when the mass of entrepreneurs is finite and there is heterogeneity in firm-specific productivity, a rise in perceived uncertainty robustly increases the option value of waiting and reduces job creation. |
| 主题 | Monetary Economics and Fluctuations |
| 关键词 | Uncertainty Search frictions Unemployment Option value |
| URL | https://cepr.org/publications/dp14630-0 |
| 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/543541 |
| 推荐引用方式 GB/T 7714 | Wouter Den Haan,Pontus Rendahl,Lukas B. Freund. DP14630 Volatile Hiring: Uncertainty in Search and Matching Models. 2020. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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