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This paper examines the efficiency of a decentralized equilibrium in a broad class of random-search job-ladder models. We decompose the source of inefficiency into two margins: (i) the investment margin, that is, the difference between the private and social benefit of job creation given the...
Persistent link: https://www.econbiz.de/10015421860
Since 1979, the Bureau of Labor Statistics (BLS) has nearly quadrupled the size of the sample used to estimate monthly employment changes. Although first-reported employment estimates are still noisy, the magnitude of sampling variability has declined in proportion to the increase in the sample...
Persistent link: https://www.econbiz.de/10012473065
Poland, Hungary. and Czechoslovakia and develop a model of changing support for reforms during the transition to a market … massive vacancies. The dispersion of wages increased substantially in Hungary and Poland though not in Czechoslovakia. My …
Persistent link: https://www.econbiz.de/10012474756
In this paper, we propose a matching model to study the efficiency of thin and thick markets. Our model shows that the … that a person can find a job is higher in a thick market than in a thin market. We apply our matching model to the U … openings and more candidates has a higher probability of matching …
Persistent link: https://www.econbiz.de/10012467874
. Consider the following matching mechanism: take a random draw from the `W=w_j` subgroup of the first population and match her … function (AMF), denote the expected output associated with this match. We show that (i) the AMF is identified when matching is … conditionally exogenous, (ii) conditionally exogenous matching is compatible with a pairwise stable aggregate matching equilibrium …
Persistent link: https://www.econbiz.de/10012456576
approach is based on a game-theoretic two-sided matching model and the estimation strategy employs the method of simulated …
Persistent link: https://www.econbiz.de/10012468819
Matching efficiency is the productivity of the process for matching jobseekers to available jobs. Job-finding is the … output; vacant jobs and active jobseekers are the inputs. Measurement of matching efficiency follows the same principles as … measuring an index of productivity of production. We develop a framework for measuring matching productivity when the population …
Persistent link: https://www.econbiz.de/10012457727
workers are employed in more productive industries. The evidence confirms assortative matching can be present even when worker …
Persistent link: https://www.econbiz.de/10012458196
We consider a matching model of employment with wages that are flexible for new hires, but sticky within matches. We …
Persistent link: https://www.econbiz.de/10012458843
The search-and-matching model of the labor market fails to match two important business cycle facts: (i) a high … in the speed of technological learning and show that a search-and-matching model featuring such shocks can account for …
Persistent link: https://www.econbiz.de/10012458896