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Steady States in Search-and-Matching Models

Author

Listed:
  • Stephan Lauermann
  • Georg Noeldeke
  • Thomas Troeger
Abstract
Most of the literature that studies frictional search-and-matching models with heterogeneous agents and random search investigates steady states. Steady state requires that the flows of agents into and out of the population of unmatched agents balance. Here, we investigate the structure of this steady-state condition. We build on the ``fundamental matching lemma'' for quadratic search technologies in Shimer and Smith (2000) and establish the existence, uniqueness, and comparative-static properties of the solution to the steady-state condition for any search technology that satisfies minimal regularity conditions.

Suggested Citation

  • Stephan Lauermann & Georg Noeldeke & Thomas Troeger, 2018. "Steady States in Search-and-Matching Models," CRC TR 224 Discussion Paper Series crctr224_2018_055, University of Bonn and University of Mannheim, Germany.
    • Handle: RePEc:bon:boncrc:crctr224_2018_055
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    File URL: https://www.crctr224.de/research/discussion-papers/archive/dp055
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    Cited by:

    1. Stephan Lauermann & Georg Nöldeke & Thomas Tröger, 2020. "The Balance Condition in Search‐and‐Matching Models," Econometrica, Econometric Society, vol. 88(2), pages 595-618, March.

    More about this item

    Keywords

    Search; Matching; Steady States;
    All these keywords.

    JEL classification:

    • C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness

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