The Beveridge Curve, Job Creation and the Propagation of Shocks
نویسنده
چکیده
This paper proposes modifications to the popular model of equilibrium unemployment by Mortensen and Pissarides [30]. I augment the model by introducing (1) costly planning for brand-new jobs, (2) the option to mothball preexisting jobs, and (3) a non-trivial job rejection decision for new employment relationships. These modifications greatly improve the model’s ability to replicate the Beveridge curve as well as observed correlations between vacancies and job creation. It is also shown that persistent behavior of vacancies in my model serves to enhance the model’s propagation mechanism. ∗Email: [email protected]. I am deeply indebted to Wouter den Haan and Gary Ramey for their guidance. I also thank Joseph Ritter for providing me with his job flow series. All remaining errors are of course my own.
منابع مشابه
استخراج منحنی بوریج ( بیکاری – فرصت شغلی، U-V) در ایران
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