“...We provide a dynamic extension of an economy with search on credit and labor markets (Wasmer and Weil 2004). Financial frictions create volatility. They add an...”

“...Propagation in equilibrium models of search unemployment is altered when vacancy costs require some external financing on frictional credit markets. The easing...”

“...Market economies are intrinsically unstable. The standard search model of equilibrium unemployment, once solved accurately with a globally nonlinear algorithm,...”

“...We develop a two-sector search-matching model of the labor market with imperfect mobility of workers, augmented to incorporate a housing market and a...”

“...To provide economic relief following the onset of the COVID-19 pandemic, the U.S. CARES Act granted an extra $600 per week in unemployment insurance (UI)...”

“...We demonstrate a methodology for replicating and projecting the path of COVID-19 using a simple epidemiology model. We fit the model to daily data on the...”

“...This book offers an integrated framework to study the theoretical and quantitative properties of economies with frictions in multiple markets. Building on...”

“...We build a flexible model with search frictions in three markets: credit, labor, and goods markets. We then apply this model (called CLG) to three different...”

“...A search and matching model, when calibrated to the mean and volatility of unemployment in the postwar sample, can potentially explain the large unemployment...”