The Fundamental Surplus Strikes Again

Lars Ljungqvist and Thomas Sargent

No 16077, CEPR Discussion Papers from Centre for Economic Policy Research

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 forthcoming) 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.

Keywords: Matching models; Alternating offer bargaining; Fundamental surplus; Dsge; Unemployment; Business cycle (search for similar items in EconPapers)
JEL-codes: E24 E32 (search for similar items in EconPapers)
Date: 2021-04
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