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Chapter 7. Search in Macroeconomic Models of the Labor Market

Rogerson, Richard; Shimer, Robert - In: Handbook of labor economics : volume 4, part A, (pp. 619-700). 2011

This chapter assesses how models with search frictions have shaped our understanding of aggregate labor market outcomes in two contexts: business cycle fluctuations and long-run (trend) changes. We first consolidate data on aggregate labor market outcomes for a large set of OECD countries. We...

Persistent link: https://www.econbiz.de/10014025126

Chapter 18 Job reallocation, employment fluctuations and unemployment

Mortensen, Dale T.; Pissarides, Christopher A. - In: Handbook of macroeconomics : volume 1, part B, (pp. 1171-1228). 1999

properties of employment and unemployment equilibrium. Second, it applies the model to the study of employment fluctuations and … to the explanation of differences in unemployment rates in industrialized countries. The search and matching model is … unemployment and of jobs out of the market (the ‘job destruction’ flow). Steady-state equilibrium is at the point where the two …

Persistent link: https://www.econbiz.de/10014024227

The macro-dynamics of sorting between workers and firms

Lise, Jeremy; Robin, Jean-Marc - 2013

We develop an equilibrium model of on-the-job search with ex-ante heterogeneous workers and firms, aggregate uncertainty and vacancy creation. The model produces rich dynamics in which the distributions of unemployed workers, vacancies and worker-firm matches evolve stochastically over time. We...

Persistent link: https://www.econbiz.de/10009785890

The decline in job-to-job flows : an aging workface and declining entrepreneurship explain the decline in job-to-job flows only partially

Hyatt, Henry R. - 2015

As part of a more general process of employment reallocation from less to more productive employers, jobto- job flows tend to be beneficial for productivity and for workers. Thus, when this rate slows, it is important to understand why. In the US, for example, the job-to-job flow rate is now at...

Persistent link: https://www.econbiz.de/10011433268