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The Equilibrium Search Model With Productivity Disperson And Structural Unemployment
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Book Synopsis The Equilibrium Search Model with Productivity Dispersion and Structural Unemployment by : Bent Jesper Christensen
Download or read book The Equilibrium Search Model with Productivity Dispersion and Structural Unemployment written by Bent Jesper Christensen and published by . This book was released on 1999 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Equilibrium Search Model with Productivity Disperson and Structural Unemployment by :
Download or read book The Equilibrium Search Model with Productivity Disperson and Structural Unemployment written by and published by . This book was released on 1999 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Measuring the Equilibrium Effects of Unemployment Benefits Dispersion by : Aico van Vuuren
Download or read book Measuring the Equilibrium Effects of Unemployment Benefits Dispersion written by Aico van Vuuren and published by . This book was released on 2000 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Search Theory and Unemployment by : Stephen A. Woodbury
Download or read book Search Theory and Unemployment written by Stephen A. Woodbury and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: Search Theory and Unemployment contains nine chapters that survey and extend the theory of job search and its application to the problem of unemployment. The volume ranges from surveys of job search theory that take microeconomic and macroeconomic perspectives to original theoretical contributions which focus on the externalities arising from non-sequential search and search under imperfect information. It includes a clear and authoritative survey of econometric methods that have been developed to estimate models of job search, as well as two lucid contributions to the empirical search literature. Finally, it includes a study that reviews and extends the literature on optimal unemployment insurance and concludes with an appraisal of the influence of search theory on the thinking of macroeconomic policymakers.
Book Synopsis Measuring the Equilibrium Effect of Unemployment Benefits Dispersion by : Aico van Vuuren
Download or read book Measuring the Equilibrium Effect of Unemployment Benefits Dispersion written by Aico van Vuuren and published by . This book was released on 2001 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We analyze the impact of unemployment benefits and minimum wages using an equilibrium search model which allows for dispersion of benefits and productivity levels, job-to-job transitions, and structural and frictional unemployment. The estimation method uses readily available aggregate data on marginal distributions of unemployment durations as well as wages and benefit levels. Different causes of structural and frictional unemployment are investigated. We investigate the efficiency of the imposition of a single benefit level for all household types and the introduction of an Earned Income Tax Credit.
Book Synopsis Equilibrium Search with Continous Productivity Dispersion: Theory and Non-parametric Estimation by : Christian Bontemps
Download or read book Equilibrium Search with Continous Productivity Dispersion: Theory and Non-parametric Estimation written by Christian Bontemps and published by . This book was released on 1998 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Wage Dispersion written by Dale Mortensen and published by MIT Press. This book was released on 2003 with total page 170 pages. Available in PDF, EPUB and Kindle. Book excerpt: A theoretical and empirical examination of wage differentials findsthat traditional theories of competition do not explain why workers with identical skills are paid differently.
Book Synopsis The Economics of Search by : Brian McCall
Download or read book The Economics of Search written by Brian McCall and published by Routledge. This book was released on 2007-12-20 with total page 574 pages. Available in PDF, EPUB and Kindle. Book excerpt: The economics of search is a prominent component of economic theory, and it has a richness and elegance that underpins a host of practical applications. In this book Brian and John McCall present a comprehensive overview of the economic theory of search, from the classical model of job search formulated 40 years ago to the recent developments in equilibrium models of search. The book gives decision-theoretic foundations to seemingly slippery issues in labour market theory, estimation theory and economic dynamics in general, and surveys the entire field of the economics of search, including its history, theory, and econometric applications. Theoretical models of the economics of search are covered as well as estimation methods used in search theory and topics covered include job search, turnover, unemployment, liquidity, house selling, real options and auctions. The mathematical methods used in search theory such as dynamic programming are reviewed as well as structural estimation methods and econometric methods for duration models. The authors also explore the classic sequential search model and its extensions in addition to recent advances in equilibrium search theory.
Book Synopsis Equilibrium Unemployment Theory, second edition by : Christopher A. Pissarides
Download or read book Equilibrium Unemployment Theory, second edition written by Christopher A. Pissarides and published by MIT Press. This book was released on 2000-03-02 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book focuses on the modeling of the transitions in and out of unemployment, given the stochastic processes that break up jobs and lead to the formation of new jobs, and on the implications of this approach for macroeconomic equilibrium and for the efficiency of the labor market. An equilibrium theory of unemployment assumes that firms and workers maximize their payoffs under rational expectations and that wages are determined to exploit the private gains from trade. This book focuses on the modeling of the transitions in and out of unemployment, given the stochastic processes that break up jobs and lead to the formation of new jobs, and on the implications of this approach for macroeconomic equilibrium and for the efficiency of the labor market. This approach to labor market equilibrium and unemployment has been successful in explaining the determinants of the "natural" rate of unemployment and new data on job and worker flows, in modeling the labor market in equilibrium business cycle and growth models, and in analyzing welfare policy. The second edition contains two new chapters, one on endogenous job destruction and one on search on the job and job-to-job quitting. The rest of the book has been extensively rewritten and, in several cases, simplified.
Book Synopsis Wage Dispersion and Equilibrium Search Models by : Giovanni Sulis
Download or read book Wage Dispersion and Equilibrium Search Models written by Giovanni Sulis and published by . This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides a structural estimation of an equilibrium search model with on-the-job search and heterogeneity in firms' productivities using a sample of Italian male workers. Results indicate that arrival rates of offers for workers are higher when unemployed than when employed and firms exploit their monopsony power when setting wages. As a result, workers earn far less than their marginal product. The model is then used to study regional labour market differentials in Italy. Wide variation in frictional transition parameters across areas helps to explain persistent unemployment and wage differentials.
Book Synopsis Semi-Nonparametric Estimation of an Equilibrium Search Model by : Pierre Koning
Download or read book Semi-Nonparametric Estimation of an Equilibrium Search Model written by Pierre Koning and published by . This book was released on 2001 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We specify and estimate an equilibrium job search model with productivity differences across labor market segments. The model allows for two types of unemployment: frictional unemployment due to search frictions and structural unemployment due to wage floors. Wage floors exist because of high unemployment benefits or binding minimum wages. The productivity distribution is estimated semi-nonparametrically along the lines of Gallant-Nychka, using Hermite series approximation. We decompose the total unemployment rate and we examine the effects of changes in the minimum wage.
Book Synopsis Structural Models of Wage and Employment Dynamics by : Henning Bunzel
Download or read book Structural Models of Wage and Employment Dynamics written by Henning Bunzel and published by Emerald Group Publishing. This book was released on 2006-03-30 with total page 613 pages. Available in PDF, EPUB and Kindle. Book excerpt: Selected papers from a conference held in honour of Professor Dale T. Mortensen upon the occasion of his 65th birthday. It includes papers on some of Professor Dale T. Mortensen's current research topics, as well as additional theoretical papers, and micro- and macro-econometric papers.
Book Synopsis The Determinants of Equilibrium Unemployment by : Eran Yashiv
Download or read book The Determinants of Equilibrium Unemployment written by Eran Yashiv and published by . This book was released on 1995 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Equilibrium Labor Turnover, Firm Growth and Unemployment by : Melvyn G. Coles
Download or read book Equilibrium Labor Turnover, Firm Growth and Unemployment written by Melvyn G. Coles and published by . This book was released on 2012 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper considers a dynamic, non-steady state environment in which wage dispersion exists and evolves in response to shocks. Workers do not observe firm productivity and firms do not commit to future wages, but there is on-the-job search for higher paying jobs. The model allows for firm turnover (new start-up firms are created, some existing firms die) and firm specific productivity shocks. In a separating equilibrium, more productive firms signal their type by paying strictly higher wages in every state of the market. Consequently, workers always quit to firms paying a higher wage and so move efficiently from less to more productive firms. As a further implication of the cost structure assumed, endogenous firm size growth is consistent with Gibrat's law. The paper provides a complete characterization and establishes existence and uniqueness of the separating (non-steady state) equilibrium in the limiting case of equally productive firms. The existence of equilibrium with any finite number of firm types is also established. Finally, the model provides a coherent explanation of Danish manufacturing data on firm wage and labor productivity dispersion as well as the cross firm relationship between them -- National Bureau of Economic Research web site.
Book Synopsis A Multisector Equilibrium Search Model of Labor Reallocation by : Laura R. Pilossoph
Download or read book A Multisector Equilibrium Search Model of Labor Reallocation written by Laura R. Pilossoph and published by . This book was released on 2013 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is well documented that some unemployment is caused by slow intersectoral labor reallocation. Whether or not the contribution of sectoral reallocation to unemployment responds to increases in the dispersion of sectoral shocks is less clear. In this paper, I argue that the answer to this question depends crucially on how we think about intersectoral worker flows. In a model where gross worker flows exceed net worker flows, shocks that require net reallocation may have little impact on the total number of movers. Relatively unproductive sectors experience an increase in the outflow of labor, while relatively productive sectors experience a decline in the outflow of labor. In the aggregate, the effect on the total number of movers is ambiguous - only a structural model can predict which force will dominate. To this end, I develop a multisector search model of intersectoral labor reallocation that features gross flows in excess of net flows. In a two-sector calibration of the model to construction and non-construction, I examine how the dispersion of sectoral shocks during the Great Recession contributed to unemployment due to frictional intersectoral mobility. Contrary to a long-standing argument articulated in Lilien (1982), the dispersion of shocks hardly increased unemployment due to sectoral reallocation. Consistent with the argument outlined above, while the outflow of labor from construction increased, the inflow decreased relative to the benchmark in which shocks are symmetric.
Book Synopsis Structural and Frictional Unemployment in an Equilibrium Search Model with Heterogeneous Agents by : Pierre W. Koning
Download or read book Structural and Frictional Unemployment in an Equilibrium Search Model with Heterogeneous Agents written by Pierre W. Koning and published by . This book was released on 1994 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Equilibrium Wage Dispersion by : Damien Gaumont
Download or read book Equilibrium Wage Dispersion written by Damien Gaumont and published by . This book was released on 2006 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt: Search models with posting and match-specific heterogeneity generate wage dispersion. Given K values for the match-specific variable, it is known that there are K reservation wages that could be posted, but generically never more than two actually are posted in equilibrium. What is unknown is when we get two wages, and which wages are actually posted. For an example with K = 3, we show equilibrium is unique; may have one wage or two; and when there are two, the equilibrium can display any combination of posted reservation wages, depending on parameters. We also show how wages, profits, and unemployment depend on productivity.
