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The Consumption-Tightness Puzzle
Ravn, Morten O. - 2006
This paper introduces a labor force participation choice into a labor market matching model embedded in a dynamic …
Persistent link: https://www.econbiz.de/10012466244
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Size Matters : Matching Externalities and the Advantages of Large Labor Markets
Moretti, Enrico; Yi, Moises - National Bureau of Economic Research - 2024
Economists have long hypothesized that large and thick labor markets facilitate the matching between workers and firms …
Persistent link: https://www.econbiz.de/10014512104
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Structural and Cyclical Forces in the Labor Market During the Great Recession : Cross-Country Evidence
Sala, Luca - 2012
We use an estimated monetary business cycle model with search and matching frictions in the labor market and nominal … factors and reduced efficiency in labor market matching were largely responsible for the experience in the U.S. Financial … factors were also important in the U.K., but less so in Sweden and Germany. Reduced matching efficiency was considerably less …
Persistent link: https://www.econbiz.de/10012460226
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Labor Market Matching, Wages, and Amenities
Lamadon, Thibaut; Lise, Jeremy; Meghir, Costas; Robin, … - National Bureau of Economic Research - 2024
This paper develops the nonparametric identification of models with production complementarities, worker-firm specific disutility of labor and search frictions. Mobility in the model is subject to preference shocks, and we assume that firms can write wage contracts. We develop a constructive...
Persistent link: https://www.econbiz.de/10014635650
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Stubborn Beliefs in Search Equilibrium
Menzio, Guido - National Bureau of Economic Research - 2022
I study a search equilibrium model of the labor market in which workers have stubborn beliefs about their labor market prospects, i.e. beliefs about their probability of finding a job and the wage they will earn that do not respond to aggregate fluctuations in fundamentals. I show that, when...
Persistent link: https://www.econbiz.de/10013191032
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Revisiting the Hypothesis of High Discounts and High Unemployment
Martellini, Paolo - 2020
We revisit the hypothesis that cyclical fluctuations in unemployment are caused by shocks to the discount rate. We use a rich search-theoretic model of the labor market in which the UE, EU and EE rates are all endogenous. Analytically, we show that an increase in the discount rate lowers the UE...
Persistent link: https://www.econbiz.de/10012481623
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Search in Macroeconomic Models of the Labor Market
Rogerson, Richard - 2010
This chapter assesses how models with search frictions have shaped our understanding of aggregate labor market outcomes in two contexts: business cycle fluctuations and long-run (trend) changes. We first consolidate data on aggregate labor market outcomes for a large set of OECD countries. We...
Persistent link: https://www.econbiz.de/10012462750
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Identification of Search Models with Initial Condition Problems
Barlevy, Gadi - 2006
This paper extends previous work on the identification of search models in which observed worker productivity is imperfectly observed. In particular, it establishes that these models remain identified even when employment histories are left-censored (i.e. we do not get to follow workers from...
Persistent link: https://www.econbiz.de/10012466528
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The Cyclical Behavior of Equilibrium Unemployment and Vacancies : Evidence and Theory
Shimer, Robert - 2003
This paper argues that a broad class of search models cannot generate the observed business-cycle-frequency fluctuations in unemployment and job vacancies in response to shocks of a plausible magnitude. In the U.S., the vacancy-unemployment ratio is 20 times as volatile as average labor...
Persistent link: https://www.econbiz.de/10012469164
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Labor Market Search and Optimal Retirement Policy
Bhattacharya, Joydeep - 2001
A popular view about social security, dating back to its early days of inception, is that it is a means for young, unemployed workers to 'purchase' jobs from older, employed workers. The question we ask is: Can social security, by encouraging retirement and hence creating job vacancies for the...
Persistent link: https://www.econbiz.de/10012470125