Modeling Labor Markets in Macroeconomics: Search and Matching

42 Pages Posted: 20 Dec 2014

See all articles by Michael U. Krause

Michael U. Krause

University of Cologne

Thomas Lubik

Federal Reserve Banks - Federal Reserve Bank of Richmond

Date Written: December 18, 2014

Abstract

We present and discuss the simple search and matching model of the labor market against the background of developments in modern macroeconomics. We derive a simple representation of the model in a general equilibrium context and how the model can be used to analyze various policy issues in labormarkets and monetary policy.

Keywords: Unemployment, vacancies, Beveridge curve, labor market reforms, monetary policy

JEL Classification: E24, E32, J23, J64

Suggested Citation

Krause, Michael U. and Lubik, Thomas, Modeling Labor Markets in Macroeconomics: Search and Matching (December 18, 2014). FRB Richmond Working Paper No. 14-19. Available at SSRN: https://ssrn.com/abstract=2540135 or http://dx.doi.org/10.2139/ssrn.2540135

Michael U. Krause

University of Cologne ( email )

Albertus-Magnus-Platz
Cologne, 50923
Germany

Thomas Lubik (Contact Author)

Federal Reserve Banks - Federal Reserve Bank of Richmond ( email )

P.O. Box 27622
Richmond, VA 23261
United States

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