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Published in 2017 at "Macroeconomic Dynamics"
DOI: 10.1017/s1365100516001164
Abstract: The flow utility of unemployment plays a crucial role in labor search and matching models. Recent evidence by Chodorow-Reich and Karabarbounis suggests that the flow utility is high on average, volatile, and strongly procyclical. Taken…
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Keywords:
unemployment;
employment search;
search;
opportunity cost ... See more keywords