Can Market-Clearing Models Explain U.S. Labor Market Fluctuations

A simple market-clearing framework is developed that demonstrates how more realistic treatment of employment and incomplete risk-sharing may provide an alternative approach to better account for these labor market facts.

Journal Title: The Federal Reserve Bank of St. Louis Review Vol. 81; no. 4; pp. 35 - 49
Author: Victor Li
Format: Article
Language: English
Published: Jul/Aug 1999
Subjects:
Online Access: Full Text
Summary: A simple market-clearing framework is developed that demonstrates how more realistic treatment of employment and incomplete risk-sharing may provide an alternative approach to better account for these labor market facts.
ISSN: 0014-9187