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HEC Montréal | Institute of Applied Economics



Centre interuniversitaire sur le risque, 
les politiques économiques et l'emploi



Symposium on Labor Market Frictions
and the Business Cycle

Thursday – May 30, 2013

HEC Montréal
3000, chemin de la Côte-Sainte-Catherine, Montréal
Serge-Saucier room – 1st Floor


Call for papers


MacroMontreal, HEC Montreal, and CIRPEE will host the “Symposium on Labor Market Frictions and the Business Cycle” on Thursday, May 30th, 2013.

The meeting will bring together researchers working on empirical and theoretical aspects of macroeconomics, focusing on the impact on business cycle and economic policy of search frictions in the labor market, workers heterogeneity and worker-employer matching.

REGISTRATION: Participation is restricted to registered participants, and is free of charge. To participate to the Symposium, please email

LOCATION: The Symposium will take place at the main building of HEC Montreal on 3000, Chemin de la Côte-Sainte-Catherine, Montréal. The same building will also host the sessions of the CEA 2013 meeting. Directions to HEC Montreal are available at

FURTHER INFORMATION: For travel, accommodation and any other information please consult the CEA 2013 website at





8:45 - 9:30

The Cyclicality of Search Intensity in a Competitive Search Model  
Damba Lkhagvasuren
, Concordia University



Recall and Unemployment
Shigeru Fujita,
Federal Reserve Bank of Philadelphia
Giuseppe Moscarini
, Yale University

Discussant: Ryan Michaels, University of Rochester




Mismatch Shocks and Unemployment During the Great Recession
Francesco Furlanetto
, Norges Bank  
Nicolas Groshenny, Reserve Bank of New Zealand

Discussant: Makoto Nakajima, Federal Reserve Bank of Philadelphia




Keynote Lecture

The Great Recession through the Lens of Equilibrium Unemployment Theory
Robert Shimer
, University of Chicago


Slow Recoveries, Worker Heterogeneity, and the Zero Lower Bound
Federico Ravenna
, HEC Montréal
Carl E. Walsh, University of California – Santa Cruz

Discussant: Nicolas Petrosky-Nadeau
Tepper School of Business, Carnegie Mellon University




Job Search Behaviour over the Business Cycle
Toshihiko Mukoyama, University of Virginia and Federal Reserve Board
Christina Patterson, Federal Reserve Bank of New York
Ayşegül Sahin, Federal Reserve Bank of New York

Discussant: Rigas Oikonomou, HEC Montréal

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