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SEARCH FRICTIONS ON PRODUCT AND LABOR MARKETS: MONEY IN THE MATCHING FUNCTION

Etienne Lehmann () and Bruno Van der Linden

Macroeconomic Dynamics, 2010, vol. 14, issue 1, 56-92

Abstract: This paper builds a macroeconomic model of equilibrium unemployment in which firms persistently face difficulties in selling their production, and this affects their decisions to create jobs. We show that the competitive search equilibrium is not efficient and that inflation is detrimental to unemployment.

Date: 2010
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Citations: View citations in EconPapers (35)

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Working Paper: Search Frictions on Product and Labor markets: Money in the Matching Function (2007) Downloads
Working Paper: Search Frictions on Product and Labor Markets: Money in the Matching Function (2007) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:cup:macdyn:v:14:y:2010:i:01:p:56-92_08

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