PRODUCTIVITY AND THE LABOR MARKET: COMOVEMENT OVER THE BUSINESS CYCLE*
发现使用不同就业数据测量生产率时，生产率驱动的劳动力市场模型与数据的差异会显著缩小，并引入建设时间和家庭生产随机价值来改进模型拟合。
The productivity-driven Mortensen–Pissarides model predicts that labor productivity is strongly correlated with labor market variables whereas these correlations were argued to be much weaker in the data, especially since the 1980s. We first document that the size of these discrepancies between the data and the model becomes substantially smaller if employment data from the Current Population Survey is used in measuring productivity instead of the commonly used employment data from the Current Employment Statistics. Second, we show that incorporating time to build and a stochastic value of home production helps reconcile the quantitative performance of the model with the data.