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Sorting Models of Labor Mobility, Turnover, and Unemployment
Viscusi, W. Kip - 1979
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/10012478777
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A Three State Model of Worker Flows in General Equilibrium
Krusell, Per - 2009
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/10012463398
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Implicit Contracts, Labor Mobility and Unemployment
Arnott, Richard J. - 1987
information establishes that any consistent explanation for worksharing, layoffs, severance pay, quits and unemployment must focus …
Persistent link: https://www.econbiz.de/10012476752
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The Flow Approach to Labor Markets : New Data Sources and Micro-Macro Links
Davis, Steven J. - 2006
and layoffs. A dominant role for the job-finding rate in accounting for unemployment movements in mild downturns and a …
Persistent link: https://www.econbiz.de/10012466527
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New Facts About Factor-Demand Dynamics : Employment, Jobs, and Workers
Hamermesh, Daniel S. - 1994
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/10012474309
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Labor Demand and the Source of Adjustment Costs
Hamermesh, Daniel S. - 1993
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/10012474557
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A Theory of Labor Markets with Inefficient Turnover
Blanco, Andres; Drenik, Andres; Moser, Christian; … - National Bureau of Economic Research - 2024
We develop a theory of labor markets with four features: search frictions, worker productivity shocks, wage rigidity, and two-sided lack of commitment. Inefficient job separations occur in the form of endogenous quits and layoffs that are unilaterally initiated whenever a worker's...
Persistent link: https://www.econbiz.de/10014544688
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Hiring, Churn and the Business Cycle
Lazear, Edward P. - 2012
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/10012460748
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Unemployment Insurance in Macroeconomic Stabilization
Kekre, Rohan - National Bureau of Economic Research - 2021
I study unemployment insurance (UI) in general equilibrium with incomplete markets, search frictions, and nominal …-2014, UI benefit extensions had a contemporaneous output multiplier around 1 or higher. The unemployment rate would have been …
Persistent link: https://www.econbiz.de/10012696414
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Do Deferred Wages Dominate Involuntary Unemployment as a Worker Discipline Device?
Akerlof, George A. - 1986
In the most widely analyzed type of efficiency wage model of involuntary unemployment, firms pay wages in excess of … equilibrium unemployment act as a worker discipline device. This paper concerns what is usually considered the most important … involuntary unemployment. Explicit upfront bonds are only quite rarely observed. A more subtle form of the bonding critique argues …
Persistent link: https://www.econbiz.de/10012477045