The Cyclical Behavior of Equilibrium Unemployment and Vacancies Revisited
针对标准搜索模型无法解释失业与职位空缺周期性波动的批评，本文提出新的校准策略，利用职位空缺创建成本和工资周期性数据识别关键参数，使模型与数据一致。
Recently, a number of authors have argued that the standard search model cannot generate the observed business-cycle-frequency fluctuations in unemployment and job vacancies, given shocks of a plausible magnitude. We propose a new calibration strategy of the standard model that uses data on the cost of vacancy creation and cyclicality of wages to identify the two key parameters –- the value of nonmarket activity and the bargaining weights. Our calibration implies that the model is consistent with the data.