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Matching efficiency and business cycle fluctuations

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Date

2012-03

Authors

Furlanetto, Francesco
Groshenny, Nicolas

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Crawford School of Public Policy, The Australian National University

Access Statement

Open Access

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Abstract

A large decline in the efficiency of the US labor market in matching unemployed workers and vacant jobs has been documented during the Great Recession. We use a simple New Keynesian model with search and matching frictions in the labor market to study the macroeconomic implications of matching efficiency shocks. We show that the propagation of these disturbances and their importance for business cycle fluctuations depend crucially on the form of hiring costs and on the presence of nominal rigidities.

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URI

https://hdl.handle.net/1885/733746682

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Centre for Applied Macroeconomic Analysis Working Papers (CAMA)

Source

Centre for Applied Macroeconomic Analysis Working Papers

Type

Working/Technical Paper

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Publication

Access Statement

Open Access

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