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We develop a simple model featuring search frictions and a nondegenerate labor supply decision along the extensive margin. The model is a standard version of the neoclassical growth model with indivisible labor with idiosyncratic shocks and frictions characterized by employment loss and...
Persistent link: https://www.econbiz.de/10013151365
direction and convexity of the age-unemployment relationship and the impact of experience on turnover and wages. Actions taken … when unemployed have an important impact on equilibrium turnover rates, unemployment rates, and the work history of the … pool of unemployed. The sorting model is used to analyze racial differences in youth unemployment and major empirical …
Persistent link: https://www.econbiz.de/10013220419
information establishes that any consistent explanation for worksharing, layoffs, severance pay, quits and unemployment must focus …
Persistent link: https://www.econbiz.de/10013230390
Most models of dynamic labor demand are written in terms of costs of adjusting employment (net adjustment costs). A few are based on the costs of hiring and firing (gross adjustment costs). This study derives several models containing both types of adjustment costs. A dynamic-programming model...
Persistent link: https://www.econbiz.de/10013220802
job-finding rate in accounting for unemployment movements in mild downturns and a bigger role for the job-loss rate in …
Persistent link: https://www.econbiz.de/10013210674
We provide a unified discussion of the relations among flows of workers, changes in employment and changes in the number of jobs at the level of the firm. Using the only available set of data (a nationally representative sample of Dutch firms in 1988 and 1990) we discover that: 1) Nearly half of...
Persistent link: https://www.econbiz.de/10013246251
Churn, defined as replacing departing workers with new ones as workers move to more productive uses, is an important feature of labor dynamics. The majority of hiring and separation reflects churn rather than hiring for expansion or separation for contraction. Using the JOLTS data, we show that...
Persistent link: https://www.econbiz.de/10013109441
unemployment and vacancies. Following suggestions by Robert Hall and Robert Shimer, this paper shows that a relatively standard … simulate moments of an artificial economy with and without sticky wages and we document the dependence of unemployment and …
Persistent link: https://www.econbiz.de/10012778264
We explore the links between social capital and labor market networks at the neighborhood level. We harness rich data taken from multiple sources, including matched employer-employee data with which we measure the strength of labor market networks, data on behavior such as voting patterns that...
Persistent link: https://www.econbiz.de/10012900794
This paper analyses job seekers' perceptions and their relationship to unemployment outcomes to study heterogeneity and …, accounting for most of the observed decline in job finding rates over the spell of unemployment. We also find that job seekers … calibrated model of job search how these biased beliefs contribute to the slow exit out of unemployment and can explain more than …
Persistent link: https://www.econbiz.de/10012907446