Showing 1 - 10 of 633
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
Fluctuations in the equilibrium rate of unemployment can only be understood within a theory of the natural or … equilibrium rate. It is not enough to say that unemployment is the difference between supply and demand in the labor market … themselves better off. At the equilibrium unemployment rate, employers cannot obtain labor at lower cost by offering work at …
Persistent link: https://www.econbiz.de/10013247212
information establishes that any consistent explanation for worksharing, layoffs, severance pay, quits and unemployment must focus …
Persistent link: https://www.econbiz.de/10013230390
A search and matching model, when calibrated to the mean and volatility of unemployment in the postwar sample, can … potentially explain the large unemployment dynamics in the Great Depression. The limited response of wages to labor market … conditions from credible bargaining and the congestion externality from matching frictions cause the unemployment rate to rise …
Persistent link: https://www.econbiz.de/10013079211
unemployment, called ranking. With the filling of vacancies unaffected by the selection rule, both equilibria have the same … aggregate dynamics, but different distributions of unemployment durations. With the threat point for the Nash bargained wage … being a worker with zero unemployment duration, the wage with ranking is much more sensitive to changes in the tightness of …
Persistent link: https://www.econbiz.de/10013210544
forces. A new private sector quickly emerged and has taken hold. Unemployment, which did not exist, is high and still … increasing. Will this process of transition accelerate, or slow down? Will unemployment keep increasing? Can things go wrong and … as important. The first is the interactions between unemployment and the decisions of both state and private firms. The …
Persistent link: https://www.econbiz.de/10014089271
values lower quality workers have discretely lower wages and higher unemployment than better workers. Moreover, increasing …
Persistent link: https://www.econbiz.de/10013240959
In this paper, we estimate matching functions using disaggregate data. We find strong support for the matching approach, with most specifications implying slightly increasing returns to scale. This finding does not appear to arise from our inclusion of additional controls or from the level of...
Persistent link: https://www.econbiz.de/10013244376
Does the market allocate the right workers to the right jobs? Since observable (to economists) variables account for only a small fraction of the wage variance in the data, to answer this question it is essential to study assortative matching between employers and employees based on their...
Persistent link: https://www.econbiz.de/10013028375
This paper develops a random-matching model of a frictional labor market with firm and worker dynamics. Multi-worker firms choose whether to shrink or expand their employment in response to shocks to their decreasing returns to scale technology. Growing entails posting costly vacancies, which...
Persistent link: https://www.econbiz.de/10012857823