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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

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

Scale effects in markets with search

Petrongolo, B; Pissarides, Christopher - London School of Economics (LSE) - 2003

Reduced- form tests of scale effects in markets with search, run when aggregate matching functions are estimated, may …

Persistent link: https://www.econbiz.de/10010746289

Scale effects in markets with search

Petrongolo, Barbara; Pissarides, Christopher - London School of Economics (LSE) - 2006

Reduced-form tests of scale effects in markets with search, based on aggregate matching functions, may miss important … higher post-unemployment wages but not faster matches, so aggregate matching functions are unaffected by scale. …

Persistent link: https://www.econbiz.de/10010746460

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

Productivity, aggregate demand and unemployment fluctuations

Barnichon, Regis - London School of Economics (LSE) - 2007

standard search and matching models. The correlation between cyclical unemployment and the cyclical component of labor …

Persistent link: https://www.econbiz.de/10010884545

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

A picture of European unemployment: success and failure

Nickell, Stephen - London School of Economics (LSE) - 2003

Average unemployment in Europe today is relatively high compared with OECD countries outside Europe. The majority of countries in Europe today have lower unemployment than any OECD country outside Europe, including the US. These two fa cts are consistent because the four largest countries in...

Persistent link: https://www.econbiz.de/10010884684

Productivity growth and employment: theory and panel estimates

Pissarides, Christopher; Vallanti, Giovanna - London School of Economics (LSE) - 2004

Theoretical predictions of the effect of TFP growth on employment are ambiguous, and depend on the extent to which new technology is embodied in new jobs. We estimate a model for employment, wages and investment with an annual panel for the United States, Japan and Europe and find that TFP...

Persistent link: https://www.econbiz.de/10010928604

Unemployment in Britain: a European success story

Pissarides, Christopher - London School of Economics (LSE) - 2003

Unemployment in Britain has fallen from high European-style levels to US levels. I argue that the key reasons are first the reform of monetary policy, in 1993 with the adoption of inflation targeting and in 1997 with the establishment of the independent Monetary Policy Committee, and second the...

Persistent link: https://www.econbiz.de/10010928626