The Fundamental Surplus or the Fundamentality of Vacancy Posting Costs?

Mehrab Kiarsi ()
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Mehrab Kiarsi: School of Economics, Henan University

Economics Bulletin, 2020, vol. 40, issue 2, 1011-1016

Abstract: In a recent influential paper, Ljungqvist and Sargent (2017) suggest that beneath the large responses of unemployment to movements in productivity in the various proposed reconfigurations of the standard Mortensen and Pissarides model is simply the small size of the fundamental surplus fraction. I show that the fundamental surplus fraction is small if and only if the per-vacancy posting cost is small.

JEL-codes: E2 (search for similar items in EconPapers)
Date: 2020-04-15
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