Can the Mortonson-Pissarides matching model match the business cycle facts?

No 224, Staff Report from Federal Reserve Bank of Minneapolis

Abstract: We examine whether the Mortensen-Pissarides matching model can account for the business cycle facts on employment, job creation, and job destruction. A novel feature of our analysis is its emphasis on the reduced-form implications of the matching model. Our main finding is that the model can account for the business cycle facts, but only if the average duration of a nonemployment spell is relatively high?about nine months or longer.

Keywords: Business; cycles (search for similar items in EconPapers)
Date: 1996
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Citations: View citations in EconPapers (10)

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Related works:
Journal Article: Can the Mortensen-Pissarides Matching Model Match the Business-Cycle Facts? (1999)
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