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Labor Market Sorting over the Business Cycle
Park, Hyejin - 2022
study whether workers selectively separate from their job matches in a recession. Using data from the Current Population Survey, I show that workers with short tenure and high wages are more likely to lose their jobs and become unemployed in recession periods. Moreover, the weekly history of...
Persistent link: https://www.econbiz.de/10013298838
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u* = √uv
Michaillat, Pascal; Saez, Emmanuel - National Bureau of Economic Research - 2022
Most governments are mandated to maintain their economies at full employment. We propose that the best marker of full employment is the efficient unemployment rate, u*. We define u* as the unemployment rate that minimizes the nonproductive use of labor--both jobseeking and recruiting. The...
Persistent link: https://www.econbiz.de/10013334429
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Investment-Specific Shocks and Cyclical Fluctuations in a Frictional Labor Market
Toledo, Manuel - 2012
search and matching frictions. We find that these shocks have a significant amplification effect on labor market fluctuations …
Persistent link: https://www.econbiz.de/10013109615
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The time trend in the matching function
Poeschel, Friedrich - 2012
trends in empirical matching functions. We investigate whether these trends simply arise from omitted variable bias … variable bias. As suggested by this result, we present evidence that empirical matching functions can be interpreted as … versions of the law of motion for vacancies: the coefficients in matching functions coincide with the coefficients in the law …
Persistent link: https://www.econbiz.de/10009529655
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Firms' employment dynamics and the state of the labor market
Stadin, Karolina - 2015
According to search and matching theory, a greater availability of unemployed workers should make it easier for a firm …
Persistent link: https://www.econbiz.de/10011373159
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Revisiting the matching function
Kohlbrecher, Britta; Merkl, Christian; Nordmeier, Daniela - 2014
model match formation. We use German administrative labor market data to show that the matching function correlation solely … based on idiosyncratic productivity and free entry is very close to the empirical matching function. Consequently, we argue … that standard matching function estimations are seriously biased if idiosyncratic productivity plays a role for match …
Persistent link: https://www.econbiz.de/10010350860
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Revisiting the matching function
Kohlbrecher, Britta; Merkl, Christian; Nordmeier, Daniela - 2014
model match formation. We use German administrative labor market data to show that the matching function correlation solely … based on idiosyncratic productivity and free entry is very close to the empirical matching function. Consequently, we argue … that standard matching function estimations are seriously biased if idiosyncratic productivity plays a role for match …
Persistent link: https://www.econbiz.de/10010248216
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Job placement agencies in an artificial labor market
Wozniak, Marcin - 2016
In this paper, an agent-based search and matching (ABSAM) model of a local labor market with heterogeneous agents and … are drawn directly from labor market search theory. The main research task was to measure the direct and indirect impacts …
Persistent link: https://www.econbiz.de/10011557520
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Fiscal multipliers in a two-sector search and matching model
Angelopulos, Kōnstantinos; Jiang, Wei; Malley, James R. - 2015
business cycle model with search and matching frictions. We extend the canonical model by including capital … types. We first find that, the model does a good job at matching the cyclical properties of sectoral employment and the wage …
Persistent link: https://www.econbiz.de/10010472582
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Fiscal multipliers in a two-sector search and matching model
Angelopulos, Kōnstantinos; Jiang, Wei; Malley, James R. - 2015
business cycle model with search and matching frictions. We extend the canonical model by including capital … types. We first find that, the model does a good job at matching the cyclical properties of sectoral employment and the wage …
Persistent link: https://www.econbiz.de/10010477900