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Continuous Homophily and Clustering in Random Networks
Gauer, Florian; Landwehr, Jakob - Institut für Mathematische Wirtschaftsforschung, … - 2014
We propose a random network model incorporating heterogeneity of agents and a continuous notion of homophily. Unlike … the vast majority of the corresponding economic literature, we capture homophily in terms of similarity rather than … homophily levels. As a possible application we provide a stylized labor market model, where a firm can hire a worker via the …
Persistent link: https://www.econbiz.de/10010897076
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Household Search and the Aggregate Labor Market
Mankart, Jochen; Oikonomou, Rigas - School of Economics and Political Science, Universität … - 2012
Sharing risks is one of the essential economic roles of families. The importance of this role increases in the amount of uncertainty that households face in the labor market and in the degree of incompleteness of financial markets. We develop a theory of joint household search in frictional...
Persistent link: https://www.econbiz.de/10010598866
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Lessons for forecasting unemployment in the United States: use flow rates, mind the trend
Meyer, Brent Hedlund; Tasci, Murat - Federal Reserve Bank of Atlanta - 2015
This paper evaluates the ability of autoregressive models, professional forecasters, and models that incorporate unemployment flows to forecast the unemployment rate. We pay particular attention to flows-based approaches–the more reduced-form approach of Barnichon and Nekarda (2012) and the...
Persistent link: https://www.econbiz.de/10011200270
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Shocks and Frictions under Right-to-Manage Wage Bargaining: A Transatlantic Perspective
Consolo, Agostino; Hertweck, Matthias S. - Wirtschaftswissenschaftliches Zentrum, Universität Basel - 2010
Persistent link: https://www.econbiz.de/10009025071
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The Ins and Outs of Unemployment in the Long Run: Unemployment Flows and the Natural Rate
Tasci, Murat - İktisat Bölümü, İktisadi ve İdari Bilimler Fakültesi - 2012
This paper proposes an empirical method for estimating a long-run trend for the unemployment rate that is grounded in the modern theory of unemployment. I write down an unobserved components model and identify the cyclical and trend components of the underlying unemployment flows, which in turn...
Persistent link: https://www.econbiz.de/10010859363
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Lessons for Forecasting Unemployment in the U.S.: Use Flow Rates, Mind the Trend
Meyer, Brent Hedlund; Tasci, Murat - Federal Reserve Bank of Cleveland - 2015
This paper evaluates the ability of autoregressive models, professional forecasters, and models that leverage unemployment flows to forecast the unemployment rate. We pay particular attention to flows-based approaches—the more reduced form approach of Barnichon and Nekarda (2012) and the more...
Persistent link: https://www.econbiz.de/10011167294
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Cyclical Behavior of a Matching Model with Capital Investment
Miyamoto, Hiroaki - Graduate School of International Relations, … - 2006
This paper studies the role of capital investment in a search and matching model. I develop an endogenous job separation matching model in which a firm's irreversible capital investment is endogenously determined. The incorporation of capital investment provides an additional channel for firms...
Persistent link: https://www.econbiz.de/10010627463
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Efficient Firm Dynamics in a Frictional Labor Market
Kaas, Leo; Kircher, Philipp - Fachbereich Wirtschaftswissenschaften, Universität Konstanz - 2015
We develop and analyze a labor market model in which heterogeneous firms operate under decreasing returns and compete for labor by posting long-term contracts. Firms achieve faster growth by offering higher lifetime wages, which allows them to fill vacancies with higher probability, consistent...
Persistent link: https://www.econbiz.de/10011264778
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More on Unemployment and Vacancy Fluctuations
Mortensen, Dale T.; Nagypál, Éva - Institute for the Study of Labor (IZA) - 2005
Shimer (2005a) argues that the Mortensen-Pissarides equilibrium search model of unemployment explains only about 10% of the response in the job-finding rate to an aggregate productivity shock. Some of the recent papers inspired by his critique are reviewed and commented on here. Specifically, we...
Persistent link: https://www.econbiz.de/10005703663
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When strong ties are strong – networks and youth labor market entry
Nordström Skans, Oskar; Kramarz, Francis - Institutet för Arbetsmarknads- och Utbildningspolitisk … - 2011
The conditions under which young workers find their first real post-graduation jobs are both very important for the young’s future careers and insufficiently known given their public policy implications. To study these conditions, and in particular the role played by networks, we use a Swedish...
Persistent link: https://www.econbiz.de/10011123569