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A Competitive Theory of Employment Dynamics

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Author Info

  • Gouge, Randall
  • King, Ian

Abstract

The 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 Info

Article provided by Wiley Blackwell in its journal Review of Economic Studies.

Volume (Year): 64 (1997)
Issue (Month): 1 (January)
Pages: 1-22

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Handle: RePEc:bla:restud:v:64:y:1997:i:1:p:1-22

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Cited by:
  1. 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.
  2. Fernando Alvarez & Robert Shimer, 2011. "Search and Rest Unemployment," Econometrica, Econometric Society, vol. 79(1), pages 75-122, 01.
  3. Carlos Carrillo-Tudela & Ludo Visschers, 2014. "Unemployment and Endogenous Reallocation over the Business Cycle," Economics Working Papers we1410, Universidad Carlos III, Departamento de Economía.
  4. John Kennes, 2004. "Competitive Auctions: Theory and Application," Discussion Papers 04-16, University of Copenhagen. Department of Economics.
  5. Maximiliano Dvorkin, 2013. "Sectoral Shocks, Reallocation and Unemployment in a Model of Competitive Labor Markets," 2013 Meeting Papers 1229, Society for Economic Dynamics.
  6. Benjamin Dennis & Talan Iscan, 2002. "Terms of Trade Risk," Department of Economics at Dalhousie University working papers archive totrisk, Dalhousie, Department of Economics.
  7. Juha Kilponen, 2000. "On the Efficiency of Job and Income Protection in the Dynamic Labour Markets," Discussion Papers 219, Government Institute for Economic Research Finland (VATT).
  8. 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.
  9. 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.

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