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A Test Between Unemployment Theories Using Matching Data
Coles, Melvyn; Petrongolo, Barbara - Centre for Economic Performance, LSE - 2003
This paper tests whether aggregate matching is consistent with unemployment being mainly due to search frictions or due … to job queues. Using U.K. data and correcting for temporal aggregation bias, estimates of the random matching function … are consistent with previous work in this field, but random matching is formally rejected by the data. The data instead …
Persistent link: https://www.econbiz.de/10005016867
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Imperfect Competition in the Labour Market
Manning, Alan - Centre for Economic Performance, LSE - 2010
It is increasingly recognized that labour markets are pervasively imperfectly competitive, that there are rents to the employment relationship for both worker and employer. This chapter considers why it is sensible to think of labour markets as imperfectly competitive, reviews estimates on the...
Persistent link: https://www.econbiz.de/10008542750
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Labor Search and Matching in Macroeconomics
Yashiv, Eran - Centre for Economic Performance, LSE - 2007
The labor search and matching model plays a growing role in macroeconomic analysis. This paper provides a critical …
Persistent link: https://www.econbiz.de/10005510441
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The Dynamic Beveridge Curve
Fujita, Shigeru; Ramey, Garey - EconWPA - 2005
both the vacancy- unemployment ratio and employment. We show that the standard version of the Mortensen-Pissarides matching … the matching model with sunk costs, vacancies react sluggishly to shocks, leading to highly realistic dynamics. …
Persistent link: https://www.econbiz.de/10005561342
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Fixed-Term Contracts and the Duration Distribution of Unemployment
Güell, Maia - Centre for Economic Performance, LSE - 2001
In the mid-1980s, many European countries introduced fixed-term contracts. Since then their labor markets have become more dynamic. This paper studies the implications of such reforms for the duration distribution of unemployment, with particular emphasis on the changes in the duration...
Persistent link: https://www.econbiz.de/10005016658
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Labour Market Performance and Start-Up Costs: OECD Evidence
Lopez-Garcia, Paloma - Centre for Economic Performance, LSE - 2002
This paper is intended to make a contribution to the empirical literature explaining the rise ofunemployment since the 1970s in western economies by means of interactions betweenshocks and institutions. The contribution is twofold. First, the impact of a general feature ofdeveloped economies...
Persistent link: https://www.econbiz.de/10005016766
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Creative Destruction with On-the-Job Search
Michau, Jean-Baptiste - Centre for Economic Performance, LSE - 2007
matching model in an economy with embodied technological progress and show that its dynamics are profoundly affected by …
Persistent link: https://www.econbiz.de/10005150991
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Lags and Leads in Life Satisfaction: A Test of the Baseline Hypothesis
Clark, Andrew E.; Diener, Ed; Georgellis, Yannis; … - Centre for Economic Performance, LSE - 2007
We look for evidence of habituation in twenty waves of German panel data: do individuals, after life and labour market events, tend to return to some baseline level of well-being? Although the strongest life satisfaction effect is often at the time of the event, we find significant lag and lead...
Persistent link: https://www.econbiz.de/10005150998
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The Unemployment Volatility Puzzle: Is Wage Stickiness the Answer?
Pissarides, Christopher A. - Centre for Economic Performance, LSE - 2007
I study the cyclical behavior of an equilibrium search model with endogenous job creation and destruction, with focus on the model's failure to match the observed cyclical volatility of unemployment. Job creation in the model is influenced by wages in new matches. I summarize microeconometric...
Persistent link: https://www.econbiz.de/10005151092
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How Local Are Labour Markets? Evidence from a Spatial Job Search Model
Manning, Alan; Petrongolo, Barbara - Centre for Economic Performance, LSE - 2011
across space that allows us to estimate a matching process with a very large number of areas. Estimates of this model show …
Persistent link: https://www.econbiz.de/10009368959