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On the cyclicality of unemployment: resurrecting the participation margin

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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Identification Number: 10.1016/j.labeco.2011.06.006

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
Subjects: H Social Sciences > HC Economic History and Conditions
Sets: Collections > Economists Online
Research centres and groups > Centre for Economic Performance (CEP)
Date Deposited: 19 Sep 2011 14:18
Last Modified: 13 Dec 2011 09:13
URI: http://eprints.lse.ac.uk/id/eprint/38286

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