Business Cycles With Costly Search and Recruiting
Business Cycles With Costly Search and Recruiting
复制标题
搜索和招聘成本高昂的商业周期
DOI：
10.2307/1882646
复制
发表时间：
1988
影响因子：
13.7
通讯作者：
P. Howitt
中科院分区：
文献类型：
--
作者：
P. Howitt
本文建立了一个经济周期模型，在这个模型中，产出在卢卡斯-菲尔普斯岛上进行交易，每个岛屿上的劳动力服务通过昂贵的搜索和招聘进行交换，并具有交易外部性。该模型表现出持续的非自愿失业和无效率的均衡，即使没有名义刚性和没有未开发的私人可以从贸易中获得的收益。它还表现出就业波动，而没有任何实际工资波动。它产生了一个卢卡斯总供给曲线（线性近似）。它还意味着自然失业率正依赖于相对价格冲击的可变性和持续性。
A business cycle model is developed in which output is traded on Lucas-Phelps islands and labor services on each island are exchanged through costly search and recruiting with transactions externalities. The model exhibits persistent involuntary unemployment and inefficient equilibria, even though there are no nominal rigidities and no unexploited privately attainable gains from trade. It also exhibits employment fluctuations without any real-wage fluctuations. It yields a Lucas aggregate-supply curve (to a linear approximation). It also implies that the natural rate of unemployment depends positively upon the variability and persistence of relative price shocks.