Y. Bai, . Rios-rull, K. Victor, and . Storesletten, Demand Shocks as Productivity Shocks, 2011.

J. P. Bénassy, Nonclearing Markets: Microeconomic Concepts and Macroeconomic Applications, Journal of Economic Literature, vol.XXXI, pp.732-761, 1993.

A. Berentsen, G. R. Menzio, and . Wright, Inflation and Unemployment in the Long Run, American Economic Review, vol.101, issue.1, pp.371-98, 2011.
DOI : 10.1257/aer.101.1.371

B. Bernanke and M. Gertler, Agency Costs, Net Worth and Business Fluctuations, American Economic Review, vol.79, issue.1, pp.14-31, 1989.
DOI : 10.3386/w2015

B. Bernanke and M. Gertler, Inside the Black Box: The Credit Channel of Monetary Policy Transmission, Journal of Economic Perspectives, vol.9, issue.4, pp.27-48, 1995.
DOI : 10.1257/jep.9.4.27

B. Bernanke, . Gertler, . Mark, and S. Gilchrist, The Financial Accelerator and the Flight to Quality, The Review of Economics and Statistics, vol.78, issue.1, pp.1-15, 1996.
DOI : 10.2307/2109844

C. Broda and D. E. Weinstein, Product Creation and Destruction: Evidence and Price Implications, American Economic Review, vol.100, issue.3, pp.691-723, 2010.
DOI : 10.1257/aer.100.3.691

H. Cole and R. Rogerson, Can the Mortensen-Pissarides Matching Model Match the Business-Cycle Facts?, International Economic Review, vol.40, issue.4, pp.933-59, 1999.
DOI : 10.1111/1468-2354.00048

S. Davis, J. Faberman, and J. Haltiwanger, The Flow Approach to Labor Markets: New Data Sources and Micro???Macro Links, Journal of Economic Perspectives, vol.20, issue.3, pp.3-26, 2006.
DOI : 10.1257/jep.20.3.3

P. A. Diamond, A model of price adjustment, Journal of Economic Theory, vol.3, issue.2, pp.156-168, 1971.
DOI : 10.1016/0022-0531(71)90013-5

P. A. Diamond, Aggregate Demand Management in Search Equilibrium, Journal of Political Economy, vol.90, issue.5, pp.881-94, 1982.
DOI : 10.1086/261099

D. Steven, J. , and J. Haltiwanger, Gross Job Creation and Destruction: Microeconomic Evidence and Macroeconomic Implications, NBER Macroeconomics Annual, pp.123-186, 1990.

S. J. Davis, . Haltiwanger, and C. John, Gross Job Creation, Gross Job Destruction, and Employment Reallocation, The Quarterly Journal of Economics, vol.107, issue.3, pp.819-63, 1992.
DOI : 10.2307/2118365

G. Dell-'ariccia and P. Garibaldi, Gross Credit Flows, Review of Economic Studies, vol.72, issue.3, pp.665-685, 2005.
DOI : 10.1111/j.1467-937X.2005.00347.x

L. Foster, J. Haltiwanger, and C. Syverson, Reallocation, Firm Turnover, and Efficiency: Selection on Productivity or Profitability?, American Economic Review, vol.98, issue.1, pp.394-425, 2008.
DOI : 10.1257/aer.98.1.394

S. Fujita and G. Ramey, Job Matching and Propagation, Journal of Economic Dynamics and Control, vol.30, pp.3671-3698, 2007.
DOI : 10.2139/ssrn.916787
URL : http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.333.2785

M. Gertler and A. Triggari, Unemployment Fluctuations with Staggered Nash Wage Bargaining, Journal of Political Economy, vol.117, issue.1, 2009.
DOI : 10.1086/597302
URL : http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.317.9366

R. Hall, Employment Fluctuations with Equilibrium Wage Stickiness, American Economic Review, vol.95, issue.1, pp.50-65, 2005.
DOI : 10.1257/0002828053828482

M. Hagedorn and I. Manovskii, The Cyclical Behavior of Equilibrium Unemployment and Vacancies Revisited, American Economic Review, vol.98, issue.4, pp.1692-1706, 2008.
DOI : 10.1257/aer.98.4.1692

G. D. Hansen, Indivisible labor and the business cycle, Journal of Monetary Economics, vol.16, issue.3, pp.309-327, 1985.
DOI : 10.1016/0304-3932(85)90039-X

A. Hosios, On the Efficiency of Matching and Related Models of Search and Unemployment, The Review of Economic Studies, vol.57, issue.2, pp.279-298, 1990.
DOI : 10.2307/2297382

N. Kiyotaki and J. Moore, Credit Cycles, Journal of Political Economy, vol.105, issue.2, pp.211-248, 1997.
DOI : 10.1086/262072

N. Kiyotaki and R. Wright, A search-theoretic approach to monetary economics, American Economic Review, vol.83, issue.1, pp.63-77, 1993.

D. T. Mortensen and C. A. Pissarides, Job Creation and Job Destruction in the Theory of Unemployment, The Review of Economic Studies, vol.61, issue.3, pp.61-397, 1994.
DOI : 10.2307/2297896

D. T. Mortensen and C. A. Pissarides, New Development in Models of Search in the Labor Market, pp.2567-2627, 1999.

D. T. Mortensen and E. Nagypal, More on unemployment and vacancy fluctuations, Review of Economic Dynamics, vol.10, issue.3, pp.327-347, 2007.
DOI : 10.1016/j.red.2007.01.004

B. Petrongolo and C. A. Pissarides, Looking into the Black Box: A Survey of the Matching Function, Journal of Economic Literature, vol.39, issue.2, pp.390-431, 2001.
DOI : 10.1257/jel.39.2.390

N. Petrosky-nadeau, Credit, Vacancies and Unemployment Fluctuations, pp.2009-2036, 2010.
DOI : 10.2139/ssrn.1508503

N. Petrosky-nadeau and E. Wasmer, The Cyclical Volatility of Labor Markets under Frictional Financial Markets, 2010.

C. A. Pissarides, Short-run Equilibrium Dynamics of Unemployment, Vacancies, and Real Wages, American Economic Review, vol.75, issue.4, pp.676-90, 1985.

C. A. Pissarides, Equilibrium Unemployment Theory, 1990.

R. Rogerson, Indivisible labor, lotteries and equilibrium, Journal of Monetary Economics, vol.21, issue.1, pp.3-16, 1988.
DOI : 10.1016/0304-3932(88)90042-6

R. Shimer, The Cyclical Behavior of Equilibrium Unemployment and Vacancies, American Economic Review, vol.95, issue.1, pp.25-49, 2005.
DOI : 10.1257/0002828053828572

A. Shleifer, Implementation Cycles, Journal of Political Economy, vol.94, issue.6, pp.1163-1190, 1986.
DOI : 10.1086/261428

J. Silva and M. Toledo, LABOR TURNOVER COSTS AND THE CYCLICAL BEHAVIOR OF VACANCIES AND UNEMPLOYMENT, Macroeconomic Dynamics, vol.112, issue.S1, pp.76-96, 2007.
DOI : 10.2307/2297896

E. Wasmer, A model of a non-walrasian economy with three imperfect markets: some economics of multi-frictional economies, 2009.