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Equilibrium in Matching Models with Employment Dependent Productivity

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Author Info

  • Gabriele Cardullo

    ()
    (DIEM, Faculty of Economics, University of Genoa)

Abstract

In a standard search and matching framework, the labor market presents frictions while in the competitive product market the demand is infinitely elastic.To have a more realistic framework, some models abandon the assumption of infinite elasticity and consider a two-tier productive scheme in the goods market. In this paper, I establish the conditions that are sufficient for the existence and the uniqueness of a steady-state equilibrium for this kind of models. I also notice that some standard assumptions about the production and matching technology (a Cobb-Douglas function) do not fulfill such conditions and so may hinder the existence of an equilibrium.

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File URL: http://www.accessecon.com/Pubs/EB/2009/Volume29/EB-09-V29-I3-P83.pdf
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Bibliographic Info

Article provided by AccessEcon in its journal Economics Bulletin.

Volume (Year): 29 (2009)
Issue (Month): 3 ()
Pages: 2380-2387

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Handle: RePEc:ebl:ecbull:eb-09-00251

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Related research

Keywords: Unemployment; search-matching equilibrium.;

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References

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  1. Joseph, G. & Pierrard, O. & Sneessens, H. R., 2004. "Job turnover, unemployment and labor market institutions," Labour Economics, Elsevier, vol. 11(4), pages 451-468, August.
  2. Acemoglu, Daron, 2001. "Good Jobs versus Bad Jobs," Journal of Labor Economics, University of Chicago Press, vol. 19(1), pages 1-21, January.
  3. Mortensen, Dale T & Pissarides, Christopher, 1999. "New Developments in Models of Search in the Labour Market," CEPR Discussion Papers 2053, C.E.P.R. Discussion Papers.
  4. Pierre Cahuc & André Zylberberg, 2004. "Labor Economics," MIT Press Books, The MIT Press, edition 1, volume 1, number 026203316x, December.
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Cited by:
  1. Lucas Navarro, 2010. "Efficiency of Two Sided Investments in an Equilibrium Unemployment Framework," ILADES-Georgetown University Working Papers inv260, Ilades-Georgetown University, Universidad Alberto Hurtado/School of Economics and Bussines.

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