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Kiel Institute for World Economics Kiel Working Papers, Kiel Institute for World Economics

No 1585:
Sector-Specific Productivity Shocks in a Matching Model

Dennis Wesselbaum

Abstract: Shocks driving the business cycle have different effects on low-skilled and high-skilled workers. This paper studies the effects of temporary and permanent sector-specific shocks in a New Keynesian matching model. We show that temporary sector-specific shocks have reallaction and aggregate effects. Permanent shocks explain wedges in real wages and different performances in labor markets. Furthermore, the model is able to replicate an aggregate Beveridge curve

Keywords: Beveridge Curve, Matching, Sectoral Productivity Shock; (follow links to similar papers)

JEL-Codes: E24,; J24,; J41; (follow links to similar papers)

26 pages, January 2010

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