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Resurrecting the participation margin

Monique Ebell

LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library

Abstract: This paper considers a real business cycle model with search frictions in the labor market and labor supply which is elastic along the extensive (participation) margin. Previous authors have found that such models generate counterfactually procyclical unemployment and a positively-sloped Beveridge curve. This paper presents a calibrated model which does indeed generate countercyclical unemployment and a negatively-sloped Beveridge curve despite the presence of a participation margin.

Keywords: Unemployment; Business Cycles; Labor Force Participation (search for similar items in EconPapers)
JEL-codes: J64 E24 E32 J21 (search for similar items in EconPapers)
Pages: 31 pages
Date: 2008-06
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http://eprints.lse.ac.uk/19570/ Open access version. (application/pdf)

Related works:
Working Paper: Resurrecting the Participation Margin (2008) Downloads
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