The Determinants of Equilibrium Unemployment
用以色列数据对劳动市场的搜寻匹配模型进行结构估计，量化搜寻成本、拥挤效应和匹配过程等摩擦，并模拟关键变量对均衡失业的影响。
The paper takes the search and matching model of the aggregate labor market to the data. It tests the model's empirical validity and employs structural estimation to generate a characterization of the optimal behavior of firms and workers. The model is applied to Israeli data that are uniquely suited for this kind of empirical investigation. The structural estimates are used to quantify the frictions embodied in the model, including the costs of search, the congestion and trading externality effects, and the matching process. A calibration-simulation analysis then studies the effect of several key variables on equilibrium unemployment.