Evaluating the empirical performance of DSGE models: What is the role of search and matching frictions in the labor and capital markets?
A major perspective in explaining involuntary unemployment is to recognize the existence of job market frictions, in particular, job market matching frictions. The workhorse model employed is the Diamond- Mortensen-Pissarides (DMP) model. Similar to the labor market, the market for physical capital...
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| Format: | text |
| Language: | English |
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Institutional Knowledge at Singapore Management University
2017
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| Online Access: | https://ink.library.smu.edu.sg/etd_coll_all/40 https://ink.library.smu.edu.sg/cgi/viewcontent.cgi?article=1044&context=etd_coll_all |
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| Institution: | Singapore Management University |
| Language: | English |