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Replication data for: The Fundamental Surplus

Version
V0
Resource Type
Dataset
Creator
  • Ljungqvist, Lars
  • Sargent, Thomas J.
Publication Date
2017-09-01
Description
  • Abstract

    To generate big responses of unemployment to productivity changes, researchers have reconfigured matching models in various ways: by elevating the utility of leisure, by making wages sticky, by assuming alternating-offer wage bargaining, by introducing costly acquisition of credit, by assuming fixed matching costs, or by positing government-mandated unemployment compensation and layoff costs. All of these redesigned matching models increase responses of unemployment to movements in productivity by diminishing the fundamental surplus fraction, an upper bound on the fraction of a job's output that the invisible hand can allocate to vacancy creation. Business cycles and welfare state dynamics of an entire class of reconfigured matching models all operate through this common channel.
Availability
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Relations
  • Is supplement to
    DOI: 10.1257/aer.20150233 (Text)
Publications
  • Ljungqvist, Lars, and Thomas J. Sargent. “The Fundamental Surplus.” American Economic Review 107, no. 9 (September 2017): 2630–65. https://doi.org/10.1257/aer.20150233.
    • ID: 10.1257/aer.20150233 (DOI)

Update Metadata: 2020-05-18 | Issue Number: 2 | Registration Date: 2019-10-12

Ljungqvist, Lars; Sargent, Thomas J. (2017): Replication data for: The Fundamental Surplus. Version: V0. ICPSR - Interuniversity Consortium for Political and Social Research. Dataset. https://doi.org/10.3886/E113041