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A test between unemployment theories using matching data
Coles, Melvyn; Petrongolo, Barbara - London School of Economics (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/10010928750
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Imperfect competition in the labour market
Manning, Alan - London School of Economics (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/10010745736
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Labor search and matching in macroeconomics
Yashiv, Eran - London School of Economics (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/10011071476
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The Shimer puzzle and the correct identification of productivity shocks
Barnichon, Regis - London School of Economics (LSE) - 2007
Shimer (2005a) claims that the Mortensen-Pissarides search model of unemployment lacks an ampiflication mechanism because it cannot generate the observed business cycle fluctuations in unemployment given labor productivity shocks of plausible magnitude. This paper argues that part of the problem...
Persistent link: https://www.econbiz.de/10010884680
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Creative destruction with on-the-job search
Michau, Jean-Baptiste - London School of Economics (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/10010744813
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The Beveridge curve
Yashiv, Eran - London School of Economics (LSE) - 2007
underlying theory is the search and matching model, with workers and firms engaging in costly search leading to random matching … from it, generated by matching. …
Persistent link: https://www.econbiz.de/10010744873
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Lags and leads in life satisfaction: a test of the baseline hypothesis
Clark, Andrew E.; Diener, Ed; Georgellis, Yannis; … - London School of Economics (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/10010745154
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U.S. labor market dynamics revisited
Yashiv, Eran - London School of Economics (LSE) - 2007
The picture of U.S. labor market dynamics is opaque. Empirical studies have yielded contradictory findings and debates have emerged regarding their implications. This paper aims at clarifying the picture, which is important for the understanding of the operation of the labor market, for the...
Persistent link: https://www.econbiz.de/10010745208
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Job destruction, job creation and unemployment in transition countries: what can we learn?
Faggio, Giulia - London School of Economics (LSE) - 2007
Sixteen years into the transition, the problem of high joblessness has not been solved. Of the three explanations commonly discussed (i.e. ongoing reallocation; finished reallocation with redundant labour; wrong choice of institutional framework), we concentrated on the ongoing reallocation...
Persistent link: https://www.econbiz.de/10010745348
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The unemployment volatility puzzle: is wage stickiness the answer?
Pissarides, Christopher - London School of Economics (LSE) - 2007
I study the cyclical behavior of an equilibrium search model with endogenous job creation and destruction, with focus 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/10010745651