Matching frictions, unemployment dynamics and the cost of business cycles

We investigate the welfare cost of business cycles implied by matching frictions. First, using the reduced-form of the matching model, we show that job finding rate fluctuations generate intrinsically a non-linear effect on unemployment: positive shocks reduce unemployment less than negative shocks...

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Bibliographic details
Volume: 13
Main Author: Hairault, Jean-Olivier
Langot, François
Osotimehin, Sophie
Format: Journal Article
Language: English
Place of publication: Elsevier 01.10.2010
published in: Review of Economic Dynamics Vol. 13; no. 4; pp. 759 - 779
Data of publication: 2010-10-01
ISSN: 1094-2025
EISSN: 1096-0929
Discipline: Medicine
Public Health
Pharmacy, Therapeutics, & Pharmacology
Online Access: Fulltext
Database: Hyper Article en Ligne (HAL) (Open Access)
Hyper Article en Ligne (HAL)
HAL-SHS: Archive ouverte en Sciences de l'Homme et de la Société
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