Abstract The Real Business Cycle (RBC) research program has grown specularly over the
last decade, as its concepts and methods have diffused into mainstream macroeconomics …

Market economies experience high rates of job creation and job destruction in almost every
time period and sector. Each year, many businesses expand and many others contract. New …

We show that skill requirements in job vacancy postings differentially increased in MSAs that
were hit hard by the Great Recession, relative to less hard-hit areas. These increases persist …

Motivated by the ongoing interest of policy makers in the sources of job creation, this paper
presents results from a new OECD project on the dynamics of employment (DynEmp) based …

This book focuses on the modeling of the transitions in and out of unemployment, given the
stochastic processes that break up jobs and lead to the formation of new jobs, and on the …

This paper argues that the textbook search and matching model cannot generate the
observed business-cycle-frequency fluctuations in unemployment and job vacancies in …

We survey the literature on search-theoretic models of the labor market. We show how this
approach addresses many issues, including the following: Why do workers sometimes …

Recently, a number of authors have argued that the standard search model cannot generate
the observed business-cycle-frequency fluctuations in unemployment and job vacancies …

This paper considers propagation of aggregate shocks in a dynamic general-equilibrium
model with labor-market matching and endogenous job destruction. Cyclical fluctuations in …

This paper constructs a tractable general equilibrium model of search with risk aversion. An
increase in risk aversion reduces wages, unemployment, and investment. Unemployment …