Why is unemployment so countercyclical?
研究工资惯性如何使标准搜索匹配模型能解释失业对冲击的大幅反周期反应，对宏观和劳动经济学家有用。
We argue that wage inertia plays a pivotal role in allowing empirically plausible variants of the standard search and matching model to account for the large countercyclical response of unemployment to shocks.