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Heterogeneity and Cyclical Unempoyment

Mark Bils

出版	National Bureau of Economic Research, 2009
URL	http://books.google.com.hk/books?id=OTASkgEACAAJ&hl=&source=gbs_api

註釋

We model worker heterogeneity in the rents from being employed in a Diamond-Mortensen-Pissarides model of matching and unemployment. We show that heterogeneity, reflecting differences in match quality and worker assets, reduces the extent of fluctuations in separations and unemployment. We find that the model faces a trade-off--it cannot produce both realistic dispersion in wage growth across workers and realistic cyclical fluctuations in unemployment.