Labor-Market Matching with Precautionary Savings and Aggregate Fluctuations
---- Acknowledgements ----
We thank Dirk Krueger, Enrique Sentana, two anonymous referees, and seminar participants at conferences and seminars for very helpful comments. Krusell thanks the National Science Foundation for support. 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.