TY  - JOUR
A1  - Christiano, Lawrence J.
A1  - Eichenbaum, Martin S.
A1  - Trabandt, Mathias
T1  - Why is unemployment so countercyclical?
T2  - Review of economic dynamics
N2  - We argue that wage inertia plays a pivotal role in allowing empirically plausible variants of the standard search and matching model to account for the large countercyclical response of unemployment to shocks.
KW  - Unemployment volatility
KW  - Wage inertia
Y1  - 2021
UR  - http://publikationen.ub.uni-frankfurt.de/frontdoor/index/index/docId/63094
UR  - https://nbn-resolving.org/urn:nbn:de:hebis:30:3-630948
SN  - 1096-6099
VL  - 41.2021
SP  - 4
EP  - 37
PB  - ScienceDirect
CY  - Amsterdam [u.a.]
ER  -