TY  - BOOK
AU  - Bils,Mark
AU  - Chang,Yongsung
AU  - Kim,Sun-Bin
ED  - National Bureau of Economic Research.
TI  - Heterogeneity and Cyclical Unemployment
T2  - NBER working paper series
PY  - 2009///
CY  - Cambridge, Mass.
PB  - National Bureau of Economic Research
N1  - July 2009; Hardcopy version available to institutional subscribers
N2  - We model worker heterogeneity in the rents from being employed in a Diamond-Mortensen-Pissarides model of matching and unemployment. We show that heterogeneity, reflecting differences in match quality and worker assets, reduces the extent of fluctuations in separations and unemployment. We find that the model faces a trade-off--it cannot produce both realistic dispersion in wage growth across workers and realistic cyclical fluctuations in unemployment
UR  - https://www.nber.org/papers/w15166
UR  - http://dx.doi.org/10.3386/w15166
ER  -