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 1096-0929
EISSN:	1096-0929
Discipline:	Medicine Economics Public Health Pharmacy, Therapeutics, & Pharmacology
Subjects:	Economics and Finance Humanities and Social Sciences Matching Business cycle costs Unemployment dynamics
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 Database information Databases - DBIS