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Type: Working paper
Title: Instability and indeterminacy in a simple search and matching model
Author: Krause, M.
Lubik, T.
Citation: Economic Quarterly, 2010; 96(3):259-272
Publisher: Federal Reserve Bank of Richmond
Issue Date: 2010
ISSN: 1069-7225
Statement of
Michael U. Krause and Thomas A. Lubik
Abstract: We demonstrate the possibility of indeterminacy and nonexistence of equilibrium dynamics in a standard business cycle model with search and matching frictions in the labor market. Our results arise for empirically plausible parameterizations and do not rely on a mechanism such as increasing returns.
Keywords: Labor market
Business cycles
Rights: © 2010 Federal Reserve Bank of Richmond
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Appears in Collections:Aurora harvest 3
Economics publications

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