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.
- Language
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Englisch
- Bibliographic citation
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Series: IZA Discussion Papers ; No. 9291
- Classification
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Wirtschaft
Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
Business Fluctuations; Cycles
Demand and Supply of Labor: General
- Subject
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sequential search
hiring costs
labor market frictions
labor selection
labor market
efficiency
amplification
- Event
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Geistige Schöpfung
- (who)
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Chugh, Sanjay K.
Merkl, Christian
- Event
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Veröffentlichung
- (who)
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Institute for the Study of Labor (IZA)
- (where)
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Bonn
- (when)
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2015
- Handle
- Last update
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20.09.2024, 8:23 AM CEST
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Chugh, Sanjay K.
- Merkl, Christian
- Institute for the Study of Labor (IZA)
Time of origin
- 2015