A Note on Instability and Indeterminacy in Search and Matching Models

Thomas Lubik () and Michael Krause ()

Economics Working Paper Archive from The Johns Hopkins University,Department of Economics

Abstract: We demonstrate the possibility of indeterminacy and non-existence of equilibrium dynamics in a standard business cycle model with search and matching frictions in the labor market. Our results arise for empirically plausible parametrizations and do not rely upon a mechanism such as increasing returns.

New Economics Papers: this item is included in nep-gth
Date: 2004-11
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Persistent link: http://EconPapers.repec.org/RePEc:jhu:papers:518

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