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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