Evaluating the empirical performance of DSGE models: What is the role of search and matching frictions in the labor and capital markets?

• المؤلف الرئيسي: MOK, Weng Sam
• التنسيق: text
• اللغة: English
• منشور في: Institutional Knowledge at Singapore Management University 2017
• الموضوعات: labor market; search; Behavioral Economics; Economics; Work, Economy and Organizations
• الوصول للمادة أونلاين: 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

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...