L Rudanko - Journal of Monetary Economics, 2009 - Elsevier
Recent research seeking to explain the strong cyclicality of US unemployment emphasizes
the role of wage rigidity. This paper proposes a micro-founded model of wage rigidity—an
equilibrium business cycle model of job search, where risk neutral firms post optimal long- ...
L Rudanko - 2006 - Citeseer
Abstract Recent research seeking to explain the strong cyclicality of US unemployment
emphasizes the role of wage rigidity. This paper proposes a micro-founded model of wage
rigidity–an equilibrium business cycle model of job search, where risk neutral firms post ...
[CITATION] Idiosyncratic and aggregate risk in a frictional labor market
L Rudanko - manuscript, University of Chicago, 2006
L Rudanko - The American Economic Review, 2011 - ingentaconnect.com
Abstract: This paper develops a tractable extension of a Mortensen-Pissarides style
matching model that allows for risk averse workers with limited ability to smooth
consumption. I show that this leads to a form of equilibrium wage rigidity, as the inability of ...
Firms spend substantial resources on marketing and selling. Interpreting this as evidence of
frictions in product markets, which require firms to spend resources on customer acquisition,
this paper develops a search theoretic model of firm dynamics in frictional product markets ...
L Rudanko - 2003 - helda.helsinki.fi
One argument against the use of balanced budget rules by government is the possibility of
indeterminacy demonstrated by Schmitt-Groh6 and Uribe (1997). They show that in a
standard neoclassical growth model a balanced budget rule combined with high labor ...
L Rudanko - Forthcoming in American Economic Review, 2010 - papers.ssrn.com
Abstract: Economists face difficulties explaining the strong cyclicality of US unemployment.
This paper contributes both by developing modeling tools and evaluating a potentially
important explanation. The paper develops a parsimonious equilibrium model of job ...
L Rudanko - 2008 - gradworks.umi.com
Abstract: This dissertation explores the business cycle dynamics of the aggregate labor
market. In two essays I advance the theoretical modelling of these markets and examine
whether the new theory does quantitatively better at accounting for empirical evidence ...
P Krusell… - 2012 - people.bu.edu
Abstract We analyze a labor market with search and matching frictions where wage setting is
controlled by a monopoly union. We take a benevolent view of the union in assuming it to
care equally about employed and unemployed workers and we assume, moreover, that it ...
L Rudanko - 2008 - people.bu.edu
Solving for equilibrium amounts to solving a fixed point problem in the value of
unemployment V u (z) and contract values V (z) for all z= z1... zn. Taking as given a Pareto-
frontier, the equilibrium conditions on these variables can be written as 1 (α 1− α) f (V (z), z ...
L Rudanko - 2002 - papers.ssrn.com
Abstract: This paper presents a new approach to modelling credit restrictions by considering
uncertain access to the asset market. The asset market and the stochastic process
governing access are considered fully exogenous and independent of income. The model ...
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