Arbeitspapier
Efficiency and Labor Market Dynamics in a Model of Labor Selection
This paper characterizes efficient labor-market allocations in a labor selection model. The model’s crucial aspect is cross-sectional heterogeneity for new job contacts, which leads to an endogenous selection threshold for new hires. With cross-sectional dispersion calibrated to microeconomic data, 40 percent of empirically-relevant fluctuations in the job-finding rate arise, which contrasts with results in an efficient search and matching economy. The efficient selection model’s results hold in partial and general equilibrium, as well as with sequential search.
- Sprache
-
Englisch
- Erschienen in
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Series: CESifo Working Paper ; No. 5474
- Klassifikation
-
Wirtschaft
Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
Business Fluctuations; Cycles
Demand and Supply of Labor: General
- Thema
-
labor market frictions
hiring costs
sequential search
efficiency
amplification
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Chugh, Sanjay K.
Merkl, Christian
- Ereignis
-
Veröffentlichung
- (wer)
-
Center for Economic Studies and ifo Institute (CESifo)
- (wo)
-
Munich
- (wann)
-
2015
- Handle
- Letzte Aktualisierung
-
20.09.2024, 08:23 MESZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Chugh, Sanjay K.
- Merkl, Christian
- Center for Economic Studies and ifo Institute (CESifo)
Entstanden
- 2015