| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w19208 |
| 来源ID | Working Paper 19208 |
| Solving the DMP Model Accurately | |
| Nicolas Petrosky-Nadeau; Lu Zhang | |
| 发表日期 | 2013-07-11 |
| 出版年 | 2013 |
| 语种 | 英语 |
| 摘要 | An accurate global algorithm is critical for quantifying the dynamics of the Diamond-Mortensen-Pissarides model. Loglinearization understates the mean and volatility of unemployment, overstates the unemployment-vacancy correlation, and ignores impulse responses that are an order of magnitude larger in recessions than in booms. Although improving on loglinearization, the second-order perturbation in logs also induces large errors. We demonstrate these insights in the context of Hagedorn and Manovskii (2008). Once solved accurately, their small surplus calibration fails to explain the Shimer (2005) puzzle. While the volatility of labor market tightness is close to the data, the unemployment volatility is too high. |
| 主题 | Macroeconomics ; Consumption and Investment ; Business Cycles |
| URL | https://www.nber.org/papers/w19208 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/576881 |
| 推荐引用方式 GB/T 7714 | Nicolas Petrosky-Nadeau,Lu Zhang. Solving the DMP Model Accurately. 2013. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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