The fundamental surplus strikes again

Lars Ljungqvist and Thomas Sargent

Review of Economic Dynamics, 2021, vol. 41, 38-51

Abstract: The fundamental surplus isolates parameters that determine how sensitively unemployment respond to productivity shocks in the matching models of Christiano, Eichenbaum, and Trabandt (2016 and this issue) under either Nash bargaining or alternating-offer bargaining. Those models thus join a collection of models in which diverse forces are intermediated through the fundamental surplus. (Copyright: Elsevier)

Keywords: Matching model; Alternating offer bargaining; Fundamental surplus; DSGE; Unemployment; Business cycle (search for similar items in EconPapers)
Date: 2021
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DOI: 10.1016/j.red.2021.04.007

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