@TechReport{iza:izadps:dp9816,
            	author={Kohlbrecher, Britta and Merkl, Christian},
            	title={Business Cycle Asymmetries and the Labor Market},
            	year={2016},
	month={Mar},
            	institution={Institute of Labor Economics (IZA)},
            	address={Bonn},
            	type={IZA Discussion Paper},
            	number={9816},
            	url={https://www.iza.org/publications/dp9816},
	abstract={This paper shows that the matching function and the Beveridge curve in the United States exhibit strong nonlinearities over the business cycle. These patterns can be replicated by enhancing a search and matching model with idiosyncratic productivity shocks for new contacts. Large negative aggregate shocks move the hiring cutoff point into a part of the idiosyncratic density function with higher density and thereby generate large, asymmetric job-finding rate and unemployment reactions. Our proposed mechanism is of high relevance as it leads to time varying effects of certain policy interventions.},
	keywords={unemployment;job-finding rate;Beverdige curve;matching function;business cycle asymmetries;effectiveness of policy},
            }