Does the Shimer puzzle really exist in the American labour market?
This paper employs a dynamic stochastic general equilibrium (DSGE) method to systematically compare Shimer's and Hagedorn-Manovskii's calibration approaches to the analysis of the Shimer puzzle. The findings indicate that adopting an appropriate calibration strategy may help with solving t...
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my.um.eprints.349772022-05-11T01:17:24Z http://eprints.um.edu.my/34977/ Does the Shimer puzzle really exist in the American labour market? Furuoka, Fumitaka HB Economic Theory Business This paper employs a dynamic stochastic general equilibrium (DSGE) method to systematically compare Shimer's and Hagedorn-Manovskii's calibration approaches to the analysis of the Shimer puzzle. The findings indicate that adopting an appropriate calibration strategy may help with solving two aspects of the Shimer puzzle by generating more accurate standard errors for unemployment and elasticity of the v-u ratio with respect to productivity. However, there still remains a tendency to fail to generate an accurate standard deviation for vacancy, which is the unsolvable aspect of the Shimer puzzle. Economics Bulletin 2021 Article PeerReviewed Furuoka, Fumitaka (2021) Does the Shimer puzzle really exist in the American labour market? Economics Bulletin, 41 (3). 1009+. ISSN 1545-2921, |
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HB Economic Theory Business Furuoka, Fumitaka Does the Shimer puzzle really exist in the American labour market? |
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This paper employs a dynamic stochastic general equilibrium (DSGE) method to systematically compare Shimer's and Hagedorn-Manovskii's calibration approaches to the analysis of the Shimer puzzle. The findings indicate that adopting an appropriate calibration strategy may help with solving two aspects of the Shimer puzzle by generating more accurate standard errors for unemployment and elasticity of the v-u ratio with respect to productivity. However, there still remains a tendency to fail to generate an accurate standard deviation for vacancy, which is the unsolvable aspect of the Shimer puzzle. |
| format |
Article |
| author |
Furuoka, Fumitaka |
| author_facet |
Furuoka, Fumitaka |
| author_sort |
Furuoka, Fumitaka |
| title |
Does the Shimer puzzle really exist in the American labour market? |
| title_short |
Does the Shimer puzzle really exist in the American labour market? |
| title_full |
Does the Shimer puzzle really exist in the American labour market? |
| title_fullStr |
Does the Shimer puzzle really exist in the American labour market? |
| title_full_unstemmed |
Does the Shimer puzzle really exist in the American labour market? |
| title_sort |
does the shimer puzzle really exist in the american labour market? |
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Economics Bulletin |
| publishDate |
2021 |
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http://eprints.um.edu.my/34977/ |
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