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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Working Paper: Search Frictions on Product and Labor markets: Money in the Matching Function (2007) 
Working Paper: Search Frictions on Product and Labor Markets: Money in the Matching Function (2007) 
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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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