Steady States in Search-and-Matching Models

Stephan Lauermann, Georg Noeldeke () and Thomas Troeger
Authors registered in the RePEc Author Service: Georg Nöldeke

CRC TR 224 Discussion Paper Series from University of Bonn and University of Mannheim, Germany

Abstract: Most of the literature that studies frictional search-and-matching models with heterogeneous agents and random search investigates steady states. Steady state requires that the flows of agents into and out of the population of unmatched agents balance. Here, we investigate the structure of this steady-state condition. We build on the ``fundamental matching lemma'' for quadratic search technologies in Shimer and Smith (2000) and establish the existence, uniqueness, and comparative-static properties of the solution to the steady-state condition for any search technology that satisfies minimal regularity conditions.

Keywords: Search; Matching; Steady States (search for similar items in EconPapers)
JEL-codes: C78 D83 (search for similar items in EconPapers)
Pages: 28
Date: 2018-11
New Economics Papers: this item is included in nep-dge and nep-mic
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Citations: View citations in EconPapers (1)

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