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u* = √uv
Michaillat, Pascal; Saez, Emmanuel - National Bureau of Economic Research - 2022
vacancies, u + v. Through the Beveridge curve, the number of vacancies is inversely related to the number of jobseekers. With … such symmetry, the labor market is efficient when there are as many jobseekers as vacancies (u = v), too tight when there … are more vacancies than jobseekers (v > u), and too slack when there are more jobseekers than vacancies (u > v …
Persistent link: https://www.econbiz.de/10013334429
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Matching Models Under Scrutiny : Understanding the Shimer Puzzle
Gabriele, CARDULLO - Institut de Recherche Économique et Sociale (IRES), … - 2008
Two papers have recently questioned the quantitative consistency of the search and matching models. Shimer (2005) has … argued that a text-book matching model is unable to explain the cyclical variation of unemployment and vacancies in the U …
Persistent link: https://www.econbiz.de/10004984783
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Firms with Benefits? Nonwage Compensation and Implications for Firms and Labor Markets
Ouimet, Paige; Tate, Geoffrey - National Bureau of Economic Research - 2023
disproportionately matter for worker-firm matching and, hence, compensation inequality …
Persistent link: https://www.econbiz.de/10014322850
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Search Frictions on Product and Labor markets : Money in the Matching Function
Etienne, LEHMANN; Bruno, VAN DER LINDEN - Institut de Recherche Économique et Sociale (IRES), … - 2007
selling their production and this affects their decisions to create jobs. Due to search-frictins on the product market … their Competitive Search Equilibrium values, the unemployment rate is minimized. Yet, the Competitive Search Equilibrium is …
Persistent link: https://www.econbiz.de/10004984870
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Sticky Wages on the Layoff Margin
Davis, Steven J.; Krolikowski, Pawel - National Bureau of Economic Research - 2023
We design and field an innovative survey of unemployment insurance (UI) recipients that yields new insights about wage stickiness on the layoff margin. Most UI recipients express a willingness to accept wage cuts of 5-10 percent to save their jobs, and one third would accept a 25 percent cut....
Persistent link: https://www.econbiz.de/10014337762
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Where Have All the Workers Gone? Recalls, Retirements, and Reallocation in the COVID Recovery
Forsythe, Eliza; Kahn, Lisa B.; Lange, Fabian; Wiczer, … - National Bureau of Economic Research - 2022
At the onset of the COVID pandemic, the U.S. economy suddenly and swiftly lost 20 million jobs. Over the next two years, the economy has been on the recovery path. We assess the labor market two years into the COVID crisis. We show that early employment dynamics were almost entirely driven by...
Persistent link: https://www.econbiz.de/10013362041
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Skilled and Unskilled Employment in a Spanish Business Cycle Model
Muñoz, Rafael - Institut de Recherche Économique et Sociale (IRES), … - 1999
We analyze to what extent skill heterogeneity in the labor market with different wage formation mechanisms can explain the features of the Spanish labor market. The model assumes two types of workers with differences in skills. Skilled labor sets wages in an efficiency way while unskilled labor...
Persistent link: https://www.econbiz.de/10004985274
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Spending and Job-Finding Impacts of Expanded Unemployment Benefits : Evidence from Administrative Micro Data
Ganong, Peter; Greig, Fiona E.; Noel, Pascal J.; … - National Bureau of Economic Research - 2022
We show that the largest increase in unemployment benefits in U.S. history had large spending impacts and small job-finding impacts. This finding has three implications. First, increased benefits were important for explaining aggregate spending dynamics--but not employment dynamics--during the...
Persistent link: https://www.econbiz.de/10013361970
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The Gender Pay Gap : Micro Sources and Macro Consequences
Morchio, Iacopo; Moser, Christian - National Bureau of Economic Research - 2024
-paying employers with better nonpay attributes. To interpret these facts, we develop an equilibrium search model with endogenous firm …
Persistent link: https://www.econbiz.de/10014544687
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The Health Wedge and Labor Market Inequality
Finkelstein, Amy; McQuillan, Casey C.; Zidar, Owen M.; … - National Bureau of Economic Research - 2023
Over half of the U.S. population receives health insurance through an employer, with employer premium contributions creating a flat "head tax" per worker, independent of their earnings. This paper develops and calibrates a stylized model of the labor market to explore how this uniquely American...
Persistent link: https://www.econbiz.de/10014248009