A structural model of aggregate US job flows: another look
A recent article (Collard et al., 2002) published in this journal presented a structural model of aggregate job flows. Unrestricted estimation of the model yields parameter estimates that would imply an unemployment rate of 99%. Instead of solving this problem by fixing one of the parameters, as originally attempted by the authors, I add moments regarding the employment rate. The new results call for a re-evaluation of the model. Copyright © 2003 John Wiley & Sons, Ltd.
Year of publication: |
2003
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Authors: | Schmidt-Dengler, Philipp |
Published in: |
Journal of Applied Econometrics. - John Wiley & Sons, Ltd.. - Vol. 18.2003, 1, p. 113-118
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Publisher: |
John Wiley & Sons, Ltd. |
Saved in:
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