Job finding rate in Search and matching model

Hello everyone,

I am working on a New Keynesian model with search and matching friction in the labor market. I would like to calibrate the model using US data and I found in a paper that the monthly probability of finding a job is 56.30%. However, my model is specified in quarters and not monthly.

Now I am confused about how to target the job finding variable in the model. Can anyone suggest how to aggregate monthly rates in quarterly?

Thank you all for your help

You can use the information of quarterly data statistics if it is available for the US economy.

I would say if you have a probability of finding a job in every month of p=0.563 then the probability of finding a job in any of the subsequent months is


That is, it’s the sum of probabilities of finding a job after not having found a job before.