Aggregate unemployment in Krusell and Smith's economy
a note
by Marco Del Negro
"Using data on workers' flows into and out of employment, unemployment, and not-in-the-labor-force, I construct transition probabilities between "employment" and "unemployment" that can be used in the calibration of economies such as Krusell and Smith's (1998). I show that calibration in Krusell and Smith has some counterfactual features. Yet the gains from adopting alternative calibrations in terms of matching the data are not very large, unless one assumes that the duration of unemployment spells is well above what is usually assumed in the literature"--Federal Reserve Bank of Atlanta web site.
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Calibration, Labor market| Edition | Availability |
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Aggregate unemployment in Krusell and Smith's economy: a note
2005, Federal Reserve Bank of Atlanta
Electronic resource
in English
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Edition Notes
Includes bibliographical references.
Title from PDF file as viewed on 6/15/2005.
Also available in print.
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Mode of access: World Wide Web.
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| December 13, 2020 | Edited by MARC Bot | import existing book |
| December 5, 2010 | Edited by Open Library Bot | Added subjects from MARC records. |
| December 10, 2009 | Created by WorkBot | add works page |