A Competitive Theory of Employment Dynamics
AbstractThe authors develop a model of search and unemployment in an economy consisting of a large number of spatially separated local competitive labor markets and aggregate uncertainty. If aggregate shocks are positively autocorrelated, the implied cyclical behavior of the aggregate variables match those of empirical studies: worker movement and job creation are procyclical while total unemployment, job destruction, and job reallocation are countercyclical. Copyright 1997 by The Review of Economic Studies Limited.
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Bibliographic InfoArticle provided by Wiley Blackwell in its journal Review of Economic Studies.
Volume (Year): 64 (1997)
Issue (Month): 1 (January)
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- Carlos Carrillo-Tudela & Ludo Visschers, 2013.
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- Jacob Wong, 2012. "Aggregate Reallocation Shocks and the Dynamics of Occupational Mobility and Wage Inequality," School of Economics Working Papers 2012-04, University of Adelaide, School of Economics.
- Ian King & Arthur Sweetman, 2002. "Procyclical Skill Retooling and Equilibrium Search," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 5(3), pages 704-717, July.
- Fabrice Collard & Jacob Wong, 2011. "A Dynamic Model of Occupational Mobility, Structural Unemployment, Average Labour Productivity and Wage Dispersion," 2011 Meeting Papers 821, Society for Economic Dynamics.
- Benjamin Dennis & Talan Iscan, 2002. "Terms of Trade Risk," Department of Economics at Dalhousie University working papers archive totrisk, Dalhousie, Department of Economics.
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