NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Aggregate Implications of Indivisible Labor, Incomplete Markets, and Labor Market Frictions

Per Krusell, Toshihiko Mukoyama, Richard Rogerson, Aysegul Sahin

NBER Working Paper No. 13871
Issued in March 2008

---- Acknowledgements -----

Earlier versions of this paper were presented at Princeton University, the University of Tokyo, the Federal Reserve Bank of Chicago and the 2007 SED conference. We thank Gadi Barlevy, Bob Hall and seminar and conference participants. The views expressed in this article are those of the authors and do not necessarily reflect the position of the Federal Reserve Bank of New York, the Federal Reserve System, or the National Bureau of Economic Research.

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