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dc.contributor.authorPissarides, Christopher A.en
dc.creatorPissarides, Christopher A.en
dc.date.accessioned2019-05-03T05:22:57Z
dc.date.available2019-05-03T05:22:57Z
dc.date.issued2009
dc.identifier.urihttp://gnosis.library.ucy.ac.cy/handle/7/47859
dc.description.abstractI discuss the failure of the canonical search and matching model to match the cyclical volatility in the job finding rate. I show that job creation in the model is influenced by wages in new matches. I summarize microeconometric evidence and find that wages in new matches are volatile and consistent with the model's key predictions. Therefore, explanations of the unemployment volatility puzzle have to preserve the cyclical volatility of wages. I discuss a modification of the model, based on fixed matching costs, that can increase cyclical unemployment volatility and is consistent with wage flexibility in new matches. © 2009 The Econometric Society.en
dc.language.isoengen
dc.sourceEconometricaen
dc.subjectSearch and matchingen
dc.subjectNash wage equationen
dc.subjectUnemployment volatility puzzleen
dc.subjectWage stickinessen
dc.titleThe unemployment volatility puzzle: Is wage stickiness the answer?en
dc.typeinfo:eu-repo/semantics/article
dc.identifier.doi10.3982/ECTA7562
dc.description.volume77
dc.description.startingpage1339
dc.description.endingpage1369
dc.author.facultyΣχολή Οικονομικών Επιστημών και Διοίκησης / Faculty of Economics and Management
dc.author.departmentΤμήμα Οικονομικών / Department of Economics
dc.type.uhtypeArticleen
dc.contributor.orcidPissarides, Christopher A. [0000-0002-0695-058X]
dc.description.totalnumpages1339-1369
dc.gnosis.orcid0000-0002-0695-058X


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