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A Test Between Stock-Flow Matching And The Random Matching Function Approach

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Author Info

  • Melvyn Coles
  • Barbara Petrongolo

Abstract

This article tests between the standard "random matching function" approach and "stock-flow" matching while controlling for temporal aggregation bias. Consistent with previous empirical work, the random matching function fits the matching data reasonably well. But match flows are more highly correlated with vacancy inflows than is consistent with the random matching approach. Instead the data support stock-flow matching, where unemployed workers match directly with suitable new vacancies as such vacancies come on to the market. Copyright � (2008) by the Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.

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File URL: http://www.blackwell-synergy.com/doi/abs/10.1111/j.1468-2354.2008.00508.x
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Bibliographic Info

Article provided by Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association in its journal International Economic Review.

Volume (Year): 49 (2008)
Issue (Month): 4 (November)
Pages: 1113-1141

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Handle: RePEc:ier:iecrev:v:49:y:2008:i:4:p:1113-1141

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Citations

Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Rethinking the labor matching function
    by Economic Logician in Economic Logic on 2009-03-13 15:14:00
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Cited by:
  1. Lisi, Gaetano, 2010. "Introduzione allo studio dei modelli di "matching" del mercato del lavoro
    [Introduction to the study of matching models of unemployment]    ," MPRA Paper 22735, University Library of Munich, Germany.
  2. Carlos Carrillo-Tudela & Eric Smith, 2009. "Wage dispersion and wage dynamics within and across firms," Working Paper 2009-22, Federal Reserve Bank of Atlanta.
  3. Ewa Gałecka-Burdziak, 2012. "Labour market matching – the case of Poland," Bank i Kredyt, National Bank of Poland, Economic Institute, vol. 43(3), pages 31-46.
  4. Steven J. Davis & R. Jason Faberman & John C. Haltiwanger, 2010. "The Establishment-Level Behavior of Vacancies and Hiring," NBER Working Papers 16265, National Bureau of Economic Research, Inc.
  5. Lisi, Gaetano, 2011. "Matching Models of Equilibrium Unemployment: An Overview," MPRA Paper 30191, University Library of Munich, Germany.
  6. Hillmann, Katja, 2009. "Does the Hartz IV Reform have an Effect on Matching Efficiency in Germany? A Stochastic Frontier Approach," MPRA Paper 22295, University Library of Munich, Germany.
  7. Poeschel, Friedrich, 2012. "The time trend in the matching function," IAB Discussion Paper 201203, Institut für Arbeitsmarkt- und Berufsforschung (IAB), Nürnberg [Institute for Employment Research, Nuremberg, Germany].

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  1. Economic Logic blog

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