Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/153213 
Erscheinungsjahr: 
2007
Schriftenreihe/Nr.: 
ECB Working Paper No. 779
Verlag: 
European Central Bank (ECB), Frankfurt a. M.
Zusammenfassung: 
We show how on-the-job search and the propagation of shocks to the economy are intricately linked. Rising search by employed workers in a boom amplifies the incentives of firms to post vacancies. In turn, more vacancies increases job search. By keeping job creation costs low for firms, on-the-job search greatly amplifies shocks. In our baseline calibration, this allows the model to generate fluctuations of unemployment, vacancies, and labor productivity whose magnitudes are close to the data, and leads output to be highly autocorrelated.
Schlagwörter: 
business cycle
job-to-job mobility
propagation
Search and matching
worker flows Beveridge curve
JEL: 
E21
E32
J64
Dokumentart: 
Working Paper

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