Working paper icon

Working paper

News shocks and labor market dynamics in matching models

Abstract:

We enrich a baseline RBC model with search and matching frictions on the labor market and real frictions that are helpful in accounting for the response of macroeconomic aggregates to shocks. The analysis allows shocks to have an unanticipated and a new (i.e. anticipated) component. The Bayesian estimation of the model reveals that the model which includes news shocks on macroeconomic aggregates produces a remarkable fit of the data. News shocks in stationary and non-stationary TFP, invest...

Expand abstract
Publication status:
Published

Actions


Access Document


Files:
Publisher:
University of Oxford
Series:
Department of Economics Discussion Paper Series
Publication date:
2015-04-17
Paper number:
745
Keywords:
Pubs id:
1143654
Local pid:
pubs:1143654
Deposit date:
2020-12-15

Terms of use


Views and Downloads






If you are the owner of this record, you can report an update to it here: Report update to this record

TO TOP