Search Frictions On Product and Labor Markets: Money in the Matching Function

Lehmann, Etienne;Van der Linden, Bruno
(2010) Macroeconomic Dynamics — Vol. 14, n° 1, p. 56-92 (2010)

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Abstract
This paper builds a macroeconomic model of equilibrium unemployment. in which firms persistently face difficulties in selling their production, and this affects their decisions to create jobs. We show that the competitive search equilibrium is not efficient and that inflation is detrimental to unemployment.
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  • Institution iconUCLouvainSSH/IMAQ - Institut multidisciplinaire pour la modélisation et l'analyse quantitative

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Lehmann, E., & Van der Linden, B. (2010). Search Frictions On Product and Labor Markets: Money in the Matching Function. Macroeconomic Dynamics, 14(1), 56-92. https://doi.org/10.1017/S1365100509080316 (Original work published 2010)