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Labor Search and Matching in Macroeconomics
Yashiv, Eran - Centre for Economic Performance, LSE - 2007
The labor search and matching model plays a growing role in macroeconomic analysis. This paper provides a critical …
Persistent link: https://www.econbiz.de/10005510441
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The Dynamics of Multiple Offers and the Frictional Wage Distribution
Guo, Junjie - 2022
This paper studies the dynamics of the frictional wage distribution by exploring the interaction between multiple offers and job creation. The model predicts that an increase in aggregate productivity raises the probability for an unemployed worker to receive multiple offers, which pushes firms...
Persistent link: https://www.econbiz.de/10013312809
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More on Unemployment and Vacancy Fluctuations
Mortensen, Dale T.; Nagypal, Eva - 2021
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/10013318242
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Chapter 18 Job reallocation, employment fluctuations and unemployment
Mortensen, Dale T.; Pissarides, Christopher A. - In: Handbook of macroeconomics : volume 1, part B, (pp. 1171-1228). 1999
The purpose of this chapter is twofold. First, it reviews the model of search and matching equilibrium and derives the … to the explanation of differences in unemployment rates in industrialized countries. The search and matching model is … built on the assumptions of a time-consuming matching technology that determines the rate of job creation given the …
Persistent link: https://www.econbiz.de/10014024227
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A fair wage explanation of labour market volatility
Jump, Robert - 2014
This paper proposes an explanation for observed differences in the business cycle volatility of employment and unemployment across a sample of OECD countries. Using an incomplete markets variant of the fair wage real business cycle model, increases in the gross replacement rate of public...
Persistent link: https://www.econbiz.de/10010437753
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Business cycles, unemployment insurance, and the calibration of matching models
Costain, James; Reiter, Michael - 2003
matching function. One can easily choose a calibration to make the cyclical fluctuation in unemployment as large in the model … model as it is in the data. We show with a simple analytical calculation that in the standard job matching model, one cannot …
Persistent link: https://www.econbiz.de/10011509369
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Business cycle asymmetries and the labor market
Kohlbrecher, Britta; Merkl, Christian - 2022
This paper shows that a search and matching model with idiosyncratic training cost shocks can explain the asymmetric … movement of the job-finding rate over the business cycle and the decline of matching efficiency in recessions. Large negative … tightness. Our model explains a large fraction of the matching efficiency decline during the Great Recession and generates state …
Persistent link: https://www.econbiz.de/10013185150
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State dependence in labor market fluctuations
Pizzinelli, Carlo; Theodoridis, Konstantinos; Zanetti, … - 2020
This paper documents state dependence in labor market fluctuations. Using aThreshold Vector Autoregression model (TVAR), we establish that the unemployment rate, the job separation rate, and the job finding rate exhibit a larger response to productivity shocks during periods with low aggregate...
Persistent link: https://www.econbiz.de/10012179347
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Wage, Inflation and Employment Dynamics with Labour Market Matching
Christoffel, Kai Philipp; Costain, James S.; de Walque, … - 2009
In a search and matching environment, this paper assesses a range of modeling setups against macro evidence for the …
Persistent link: https://www.econbiz.de/10014204635
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Business cycles, unemployment insurance, and the calibration of matching models
Costain, James; Reiter, Michael - 2003
matching function. One can easily choose a calibration to make the cyclical fluctuation in unemployment as large in the model … model as it is in the data. We show with a simple analytical calculation that in the standard job matching model, one cannot …
Persistent link: https://www.econbiz.de/10001784219