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| Author: | Guerrieri, V. |
| Title: | Heterogeneity, job creation and unemployment volatility |
| Journal: | Scandinavian Journal of Economics
2007 : VOL. 109:4, p. 667-693 |
| Index terms: | labour markets unemployment job creation volatility models |
| Freeterms: | asymmetric information heterogeneity |
| Language: | eng |
| Abstract: | This paper explores the impact of match-specific heterogeneity (here as: h-g-y.) at the job creation margin on business cycle fluctuations. It is shown that this form of h-g-y. alone does not help to amplify labour market volatility, either under full or under asymmetric information. ... In a series of calibrations, the model is shown to deliver labour market volatilities close to the representative-agent, full-information benchmark. |
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