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Matching efficiency and business cycle fluctuations

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dc.contributor.authorFurlanetto, Francesco
dc.contributor.authorGroshenny, Nicolas
dc.date.accessioned2025-04-07T03:05:45Z
dc.date.available2025-04-07T03:05:45Z
dc.date.issued2012-03
dc.description.abstractA 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.
dc.identifier.urihttps://hdl.handle.net/1885/733746682
dc.language.isoen_AU
dc.provenanceThe publisher permission to make it open access was granted in November 2024
dc.publisherCrawford School of Public Policy, The Australian National University
dc.relation.ispartofseriesCAMA Working Paper 34/2012
dc.rightsAuthor(s) retain copyright
dc.sourceCentre for Applied Macroeconomic Analysis Working Papers
dc.source.urihttps://crawford.anu.edu.au
dc.titleMatching efficiency and business cycle fluctuations
dc.typeWorking/Technical Paper
dcterms.accessRightsOpen Access
dspace.entity.typePublication
local.bibliographicCitation.issue34/2012
local.type.statusPublished Version

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