DP5459 Search and Matching in Macroeconomics
| Author(s): | Eran Yashiv |
| Publication Date: | January 2006 |
| Keyword(s): | business cycles, growth, macroeconomics, matching, policy, search, worker flows |
| JEL(s): | E24, E32, E52, J23, J31, J41, J63, J64, J65 |
| Programme Areas: | International Macroeconomics, Labour Economics |
| Link to this Page: | cepr.org/active/publications/discussion_papers/dp.php?dpno=5459 |
This paper surveys the use of search and matching models in macroeconomics. It outlines the standard model, discusses its extensions, presents alternative formulations, considers the empirical evidence, and studies applications to macroeconomic questions such as business cycles, growth, and policy. Particular attention is given to the ability of the model to account for labour market dynamics and for cyclical fluctuations in aggregate economic activity