Job Search Behavior over the Business Cycle
利用美国时间使用调查和当前人口调查数据，构建了求职努力程度的新指标，发现其呈逆周期特征，并建立模型表明求职努力会抑制而非放大劳动力市场波动，若无此努力，2008-2014年失业率将高出0.5至1个百分点。
We create a novel measure of job search effort exploiting the American Time Use and Current Population Surveys. We examine the cyclicality of search effort using time-series, cross-state, and individual variation and find that it is countercyclical. We then set up a search and matching model with endogenous search effort and show that search effort does not amplify labor market fluctuations but rather dampens them. Lastly, we examine the role of search effort in driving recent unemployment dynamics and show that the unemployment rate would have been 0.5 to 1 percentage points higher in the 2008–2014 period had search effort not increased.