On-the-job search and cyclical unemployment: Crowding out vs. vacancy effects
نویسندگان
چکیده
منابع مشابه
On-the-job search and cyclical unemployment: Crowding out vs. vacancy effects
Incorporating on-the-job search (OTJS) into a real business cycle model has been shown to increase the cyclical volatility of unemployment. Using a particularly simple model of OTJS, we show that the increased search of employed workers during expansions induces firms to open more vacancies, but also crowds out unemployed workers in the job search, resulting in an ambiguous overall effect on un...
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Whenever unemployment stays high for an extended period, it is common to see analyses, statements, and rebuttals about the extent to which the high unemployment is structural, not cyclical. This essay views the Beveridge curve pattern of unemployment and vacancy rates and the related matching function as proxies for the functioning of the labor market and explores issues in that proxy relations...
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This paper studies the impact of long-run productivity growth on job nding and separation rates, and thus the unemployment rate, using a search and matching model. We incorporate disembodied technological progress and on-the-job search into the endogenous job separation model of Mortensen and Pissarides (1994). The incorporation of on-the-job search allows faster growth to reduce unemployment ...
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ژورنال
عنوان ژورنال: Journal of Economic Dynamics and Control
سال: 2014
ISSN: 0165-1889
DOI: 10.1016/j.jedc.2014.05.002