分享论文
The Cyclical Behavior of Equilibrium Unemployment and Vacancies ( ROBERT SHIMER 2005)
分享人
卢福豪（金融学院，2022级硕士生）
主持人
王忏（金融学院），赵军柱（创新发展学院中国经济与管理研究院）
论文摘要
This paper argues that the textbook search and matching model cannot generate the observed business-cycle-frequency fluctuations in unemployment and job vacancies in response to shocks of a plausible magnitude. In the United States, the standard deviation of the vacancy-unemployment ratio is almost 20 times as large as the standard deviation of average labor productivity, while the search model predicts that the two variables should have nearly the same volatility. A shock that changes average labor productivity primarily alters the present value of wages, generating only a small movement along a downward-sloping Beveridge curve (unemployment-vacancy locus). A shock to the separation rate generates a counterfactually positive correlation between unemployment and vacancies. In both cases, the model exhibits virtually no propagation.
时间
2023年12月21日（周四），晚上19:00-22：00
地点
学术会堂712
活动对象
创新发展学院、金融学院学生
活动规模
30人
主办
创新发展学院中国经济与管理研究院、金融学院
