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The Exact Likelihood Function for an Empirical Job Search Model

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Author Info
Christensen, Bent Jesper
Kiefer, Nicholas M.
Abstract

The exact likelihood function for a prototypal job search model is analyzed. The optimality condition implied by the dynamic programming framework is fully imposed. Using the optimality condition allows identification of an offer arrival probability separately from an offer acceptance probability. The estimation problem is nonstandard. The geometry of the likelihood function in finite samples is considered, along with asymptotic properties of the maximum likelihood estimator.

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File URL: http://journals.cambridge.org/abstract_S0266466600004710
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Publisher Info
Article provided by Cambridge University Press in its journal Econometric Theory.

Volume (Year): 7 (1991)
Issue (Month): 04 (December)
Pages: 464-486
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:cup:etheor:v:7:y:1991:i:04:p:464-486_00

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  1. Paul E. Carrillo, 2005. "Assessing the Value of On-line Information Using a Two-sided Equilibrium Search Model in the Real Estate Market," Computing in Economics and Finance 2005 307, Society for Computational Economics. [Downloadable!]
  2. George Neumann, 1996. "Search Models and Duration Data," Econometrics 9602008, EconWPA, revised 07 Mar 1996. [Downloadable!]
  3. John W. Schindler, 2001. "Testing optimality in job search models," International Finance Discussion Papers 710, Board of Governors of the Federal Reserve System (U.S.). [Downloadable!]
  4. Bruce S. Shearer, 1994. "Piece-Rates, Principal-Agent, and Productivity Profiles: Parametric and Semi-Parametric Evidence," CIRANO Working Papers 94s-16, CIRANO. [Downloadable!]
  5. Alan Manning & J Thomas, 1997. "A Simple Test of the Shirking Model," CEP Discussion Papers dp0374, Centre for Economic Performance, LSE. [Downloadable!]
  6. George R. Neumann, 1995. "Search Models and Duration Data," Labor and Demography 9511001, EconWPA. [Downloadable!]
  7. H. Bunzel & B. J. Christensen & P. Jensen & N. M. Kiefer & L. Korsholm & L. Muus & G. R. Neumann & M. Rosholm, 2001. "Specification and Estimation of Equilibrium Search Models," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 4(1), pages 90-126, January. [Downloadable!] (restricted)
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