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Mehrab Kiarsi
 
''The Fundamental Surplus or the Fundamentality of Vacancy Posting Costs?''
( 2020, Vol. 40 No.2 )
 
 
In a recent influential paper, Ljungqvist and Sargent (2017) suggest that beneath the large responses of unemployment to movements in productivity in the various proposed reconfigurations of the standard Mortensen and Pissarides model is simply the small size of the fundamental surplus fraction. I show that the fundamental surplus fraction is small if and only if the per-vacancy posting cost is small.
 
 
Keywords:
JEL: E2 - Macroeconomics: Consumption, Saving, Production, Employment, and Investment: General (includes Measurement and Data)
 
Manuscript Received : Sep 13 2019 Manuscript Accepted : Apr 15 2020

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