Efficient Search on the Job and the Business Cycle
---- Acknowledgements ----
We are grateful for comments received from participants at the Search Theory conference held at the University of Quebec in Montreal (April 2007), the Society for Economic Dynamics Meeting in New Orleans (January 2008), the Econometric Society Meeting in Pittsburgh (June 2008), the Society for Economic Dynamics Meeting in Cambridge (July, 2008), the Vienna Macroeconomic Workshop (October, 2008), the NBER Summer Institute in Cambridge (July, 2008), and at the macroeconomic seminars at the Michigan, Stanford, the Bank of Canada, the Hoover Institution, Boston University, Princeton, and Wisconsin. Discussions with Rudi Bachmann, Gadi Barlevy, Mike Elsby, Jason Faberman, Bob Hall, Nir Jaimovich, Nobuhiro Kiyotaki, Pete Klenow, Narayana Kocherlakota, Dale Mortensen, Giuseppe Moscarini, Thijs van Rens, and Marcelo Veracierto led to significant improvements in the paper. We thank Frank Diebold, Jason Faberman, Giuseppe Moscarini, Eva Nagypál, David Neumark and Daniel Polsky for generously sharing their data with us. Menzio gratefully acknowledges the financial support and the hospitality of the Hoover Institution. Shi gratefully acknowledges the financial support from the Social Sciences and Humanities Research Council of Canada and from the Bank of Canada Fellowship. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.