Unemployment and Vacancy Fluctuations in the Matching Model: Inspecting the Mechanism

By A. Hornstein, Per Krusell, Giovanni L. Violante. 2005

182 citations recorded by the source corpus.

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Citations in the corpus

Job matching and propagation (2006, methodology): “In the absence of other information, our calibration exploits this 12See Hagedorn and Manovskii (2005), Hall (2005), Hornstein, Krusell, and Violante (2005), Mortensen and Nagypál (2005), and Shimer (2005). sensitivity by selecting the value b = 0.90 in order to match the empirical standard…”
Job Search Behavior over the Business Cycle (2013, background): “(21) 21Most of the papers which characterize the analytical properties of the DMP model rely on the steady-state comparison, which makes it impossible to analyze the effect of ρ. Hornstein, Krusell, and Violante (2005) analyze a stochastic model, but with the shock taking only two points.”
An Estimated Monetary DSGE Model with Unemployment and Staggered Nominal Wage Bargaining (2008, background): “(21) As wage dispersion is present, we replace the standard assumption of fixed costs of posting a vacancy with quadratic labor adjustment costs, given here by κt 2 x 2 t (i)nt−1 (i) .”
The Cyclicality of the Opportunity Cost of Employment (2016, methodology): “5 percent accords well with the benefit levels used by Mortensen and Nagypal (2007) and Hall and Milgrom (2008) and the rate suggested by Hornstein et al. (2005). The Department of Labor estimates a wage replacement rate of about 45 percent (http://workforcesecurity.”
The growth potential of startups over the business cycle (2014, background): “related to Bartelsman, Haltiwanger, and Scarpetta (2009) who in a cross-country study investigate average post-entry behavior of young firms and to Lee and Mukoyama (2012) who document productivity and size patterns of entering and exiting firms in the manufacturing sector.”
Doves for the Rich, Hawks for the Poor? Distributional Consequences of Monetary Policy (2016, methodology): “According to Hornstein et al. (2005) (see their Table 1), using the smoothing parameter of 10 instead of the standard value of 1,600 does not generate a substantial difference in terms of the volatility of the important labor market variables relative to the volatility of labor productivity.”
Unemployment Fluctuations with Staggered Nash Wage Bargaining (2006, background): “Equation (26) is a variation on the conventional sharing rule, where the relative weight χ depends not only on the worker’s bargaining power η, but also on the differential firm/worker horizon, reflected by the term μ/ .”
LABOR TURNOVER COSTS AND THE CYCLICAL BEHAVIOR OF VACANCIES AND UNEMPLOYMENT (2009, background): “See Hornstein et al. (2005) for a similar mechanism at work in the standard model when labor productivity is close to the value of being unemployed. 2. Shimer (2005) and Costain and Reiter (2008) point out that endogenous job destruction in the spirit of Mortensen and Pissarides (1994) deteriorates ”
More on Unemployment and Vacancy Fluctuations (2007, background): “Specifically, we continue to assume that Equation (15) characterizes the wage given the current value of match product p.”
Labor-Market Matching with Precautionary Savings and Aggregate Fluctuations (2010, unknown): “From (18) and k̃ = k̄/(1− u), we can obtain the aggregate capital k̄: k̄ 1 − u = ( r αz ) 1 α−1 .”