Matching frictions, unemployment dynamics and the cost of business cycles

International audience; 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 le...

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Bibliographic details
Main Author: Hairault, Jean-Olivier
Langot, François
Osotimehin, Sophie
Format: Publication
Language: English
Place of publication: Elsevier 01.10.2010
Data of publication: 2010-10-01
Subjects:
Online Access: available in Bonn?
Database: OpenAIRE (Open Access)
OpenAIRE
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