Heterogeneity and Cyclical Unemployment
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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
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美国国家经济研究局创建时间：
2009-07-01
