LIFE‐CYCLE LABOR SEARCH WITH STOCHASTIC MATCH QUALITY
构建了一个包含生命周期结构和随机匹配质量的搜索匹配模型，解释了美国失业率、工作寻找率和离职率随年龄增长而下降的现象，并发现市场与计划者配置的差异对年长工人更为重要。
In the United States, unemployment, job finding, and separation rates decline as worker age increases. To explain these facts, we build a search and matching model of the labor market that incorporates a life‐cycle structure and features random match quality as well as human capital accumulation. The calibrated model successfully reproduces the empirical patterns of unemployment and job transition rates over the life cycle and generates plausible wage implications. We then explore the efficiency implications of the model and find that the differences between the market and planner allocations are more important for older workers.