Uncertainty shocks and unemployment dynamics
نویسندگان
چکیده
Recent events suggest that uncertainty changes play a major role in U.S. labor market fluctuations. This study analyzes the impact of shocks on unemployment dynamics. We develop quantitative version Diamond–Mortensen–Pissarides (DMP) model, which hit economy. Given significant nonlinearities DMP we show introduction allows this textbook model to account for observed characteristics dynamics, with reasonable values calibrated parameters.
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ژورنال
عنوان ژورنال: Economics Letters
سال: 2022
ISSN: ['1873-7374', '0165-1765']
DOI: https://doi.org/10.1016/j.econlet.2022.110760