Kiel Working Papers, Kiel Institute for World Economics
No 1616:
Reciprocity and Matching Frictions
Dennis Wesselbaum
Abstract: We build a RBC endogenous separation matching model and
introduce efficiency wages along the lines of Akerlof (1982). While the
standard endogenous separation matching model reveals shortcomings in
explaining correlations and volatilities jointly, this approach performs
reasonably well along both dimensions. The proper introduction of real
rigidities can consistently enhance the performance of the (endogenous
separation) matching model
Keywords: Efficiency Wages, Endogenous Separations, Search and Matching; (follow links to similar papers)
JEL-Codes: E32,; J41,; J64; (follow links to similar papers)
18 pages, April 2010
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