Ebell, Monique
(2011)
On the cyclicality of unemployment: resurrecting the participation margin.
Labour Economics, 18 (6).
pp. 822-836.
ISSN 0927-5371
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Abstract
This paper considers a real business cycle model with search frictions in the labor market and labor supply which is elastic along the participation margin. Previous authors have found that such models generate counterfactually procyclical unemployment and a positively sloped Beveridge curve. This paper presents a calibrated model which succeeds at generating countercyclical unemployment and a negatively sloped Beveridge curve, despite the presence of a participation margin.
| Item Type: |
Article
|
| Official URL: |
http://www.elsevier.com/wps/find/journaldescriptio... |
| Additional Information: |
© 2011 Elsevier |
| Divisions: |
Centre for Economic Performance |
| Subjects: |
H Social Sciences > HC Economic History and Conditions |
| JEL classification: |
E - Macroeconomics and Monetary Economics > E2 - Consumption, Saving, Production, Employment, and Investment > E24 - Macroeconomics: Employment; Unemployment; Wages; Intergenerational Income Distribution (includes wage indexation)
E - Macroeconomics and Monetary Economics > E3 - Prices, Business Fluctuations, and Cycles > E32 - Business Fluctuations; Cycles
J - Labor and Demographic Economics > J2 - Time Allocation, Work Behavior, and Employment Determination and Creation; Human Capital; Retirement > J22 - Time Allocation and Labor Supply
J - Labor and Demographic Economics > J6 - Mobility, Unemployment, and Vacancies > J64 - Unemployment: Models, Duration, Incidence, and Job Search |
| Date Deposited: |
19 Sep 2011 14:18 |
| Last Modified: |
11 Dec 2024 23:56 |
| URI: |
http://eprints.lse.ac.uk/id/eprint/38286 |
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