Labor‐market Volatility in Matching Models with Endogenous Separations*
研究了内生分离匹配模型在商业周期中的表现，发现生产率冲击对职位空缺-失业比的影响取决于工龄与生产率的关系，且内生分离有助于解释失业率波动但无法解释职位空缺率波动。
Abstract The business‐cycle behavior of a matching model with endogenous separations is studied in this paper. We show that whether aggregate productivity shocks have a larger effect on the vacancy–unemployment ratio than in a model with exogenous separations depends on whether worker productivity stochastically increases with tenure. The difference in the response is quantitatively small, however. We also show that the cleansing effect introduced by allowing for endogenous separations can help in reconciling the model with observed fluctuations in the unemployment rate, but not with those in the vacancy rate.