Specific Capital and Vintage Effects on the Dynamics of Unemployment and Vacancies
在Mortensen-Pissarides匹配模型中引入工作年代异质性和特定资本，发现该扩展模型能解释失业和职位空缺的波动，且特定资本对降低现有匹配破坏率的波动性很重要。
In a reasonably calibrated Mortensen and Pissarides matching model, shocks to average labor productivity can account for a small portion of the fluctuations in unemployment and vacancies (Shimer (2005)). I add heterogeneity in jobs (matches) with respect to the time the job is created in the form of different embodied technology levels. I also introduce specific capital that, once adapted for a match, has less value in another match. I show that the augmented model can account for fluctuations in unemployment and vacancies, and that specific capital is important to decreasing the volatility of the destruction rate of existing matches.