The cyclicality of job search effort in matching models
研究在匹配模型中，当求职努力程度非顺周期时，如何仍能放大生产率冲击对劳动力市场波动的影响，通过引入顺周期的休闲价值和交替出价工资谈判来实现。
Abstract The canonical matching model is the workhorse model of the labour market but lacks a proper amplification mechanism for productivity shocks. One way to amplify the effects of shocks is to allow workers to endogenously adjust their job search effort: as search effort is procyclical in the canonical model, volatilities increase. Yet, the empirical literature points against procyclical search effort, raising doubts of how acyclical (or countercyclical) search effort can coincide with volatile labour market variables in matching models. We show that they can coincide in a model with procyclical value of leisure and alternating-offer wage bargaining.