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Estimation of Equilibrium Wage Distributions with Heterogeneity

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Author Info
Bowlus, Audra J
Kiefer, Nicholas M
Neumann, George R

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Abstract

Equilibrium search models generalize the one-sided models used earlier by endogenizing the wage offer distribution. Attempts to estimate versions of these equilibrium n search models have been unsuccessful, ironically because the predicted wage distribution did not fit the wage data. In this paper we extend the applicability of search models by introducing firm heterogeneity to account for the shape of the wage density. The resulting estimation problem is difficult, but we propose a solution and illustrate its feasibility and performance with a Monte Carlo study and an application to U.S. labor market data. Copyright 1995 by John Wiley & Sons, Ltd.

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Article provided by John Wiley & Sons, Ltd. in its journal Journal of Applied Econometrics.

Volume (Year): 10 (1995)
Issue (Month): S (Suppl. Dec.)
Pages: S119-31
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Handle: RePEc:jae:japmet:v:10:y:1995:i:s:p:s119-31

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  1. Lene Kromann, 2009. "Does Employee Body Weight Affect Employers' Behavior?," Economics Working Papers 2009-04, School of Economics and Management, University of Aarhus. [Downloadable!]
  2. Gerard J. van den Berg, 1999. "Multiple Equilibria and Minimum Wages in Labor Markets with Informational Frictions and Heterogeneous Production Technologies," Tinbergen Institute Discussion Papers 99-085/3, Tinbergen Institute. [Downloadable!]
  3. Tomi Kyyrä, 2001. "Estimating Equilibrium Search Models from Finnish Data," Discussion Papers 256, Government Institute for Economic Research Finland (VATT). [Downloadable!]
    Other versions:
  4. Audra J Bowlus & Louise Grogan, . "Equilibrium Job Search and Gender Wage Differentials in the UK," Canadian International Labour Network Working Papers 48, McMaster University. [Downloadable!]
    Other versions:
  5. Bryan Engelhardt, 2008. "The Effect of Employment Frictions on Crime: Theory and Estimation," Working Papers 0805, College of the Holy Cross, Department of Economics. [Downloadable!]
  6. Pedersen, Peder J. & Smith, Nina, 2001. "International Migration and Migration policy in Denmark," CLS Working Papers 01-5, University of Aarhus, Aarhus School of Business, Centre for Labour Market and Social Research. [Downloadable!]
  7. Subal Kumbhakar & Christopher Parmeter, 2009. "The effects of match uncertainty and bargaining on labor market outcomes: evidence from firm and worker specific estimates," Journal of Productivity Analysis, Springer, vol. 31(1), pages 1-14, February. [Downloadable!] (restricted)
  8. Jean-Marc Robin & Sébastien Roux, 2002. "An Equilibrium Model of the Labor Market with Endogenous Capital and Two-Sided Search," Annales d'Economie et de Statistique, ADRES, issue 67-68, pages 10, Juillet-D. [Downloadable!]
  9. J. Ignacio Garcia-Perez, 2002. "Equilibrium search models: the role of the assumptions," Investigaciones Economicas, Fundación SEPI, vol. 26(2), pages 255-284, May. [Downloadable!]
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  10. Launov, Andrey & Wolff, Joachim & Klasen, Stephan, 2004. "Unemployment Benefits and Unemployment Rates of Low-Skilled and Elder Workers in West Germany: A Search Equilibrium Approach," IZA Discussion Papers 1161, Institute for the Study of Labor (IZA). [Downloadable!]
  11. Gary Koop, 2002. "Parametric and Nonparametric Inference in Equilibrium Job Search Models," Discussion Papers in Economics 04/14, Department of Economics, University of Leicester. [Downloadable!]
  12. Christian Holzner & Andrey Launov, 2005. "Search Equilibrium, Production Parameters and Social Returns to Education: Theory and Estimation," IZA Discussion Papers 1904, Institute for the Study of Labor (IZA). [Downloadable!]
    Other versions:
  13. Audra J. Bowlus & Shannon N. Seitz, 1998. "Search Friction in the U.S. Labor Market," Tinbergen Institute Discussion Papers 98-113/3, Tinbergen Institute. [Downloadable!]
  14. George Neumann, 1996. "Search Models and Duration Data," Econometrics 9602008, EconWPA, revised 07 Mar 1996. [Downloadable!]
  15. Westergaard-Nielsen, Niels, 2001. "Danish Labour Market Policy: Is it worth it?," CLS Working Papers 01-10, University of Aarhus, Aarhus School of Business, Centre for Labour Market and Social Research. [Downloadable!]
  16. Audra J. Bowlus & Zvi Eckstein, 1998. "Discrimination and Skill Differences in an Equilibrium Search Model," Tinbergen Institute Discussion Papers 98-112/3, Tinbergen Institute. [Downloadable!]
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  17. Gathier Lanot & George Neumann, 1996. "Measuring Productivity Differences in Equilibrium Search Models," Econometrics 9606003, EconWPA. [Downloadable!]
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  18. Gerard J. van den Berg, 1998. "Empirical Inference with Equilibrium Search Models of the Labor Market," Tinbergen Institute Discussion Papers 98-089/3, Tinbergen Institute. [Downloadable!]
    Other versions:
  19. George R. Neumann, 1995. "Search Models and Duration Data," Labor and Demography 9511001, EconWPA. [Downloadable!]
  20. Ortega, Jaime, 2000. "Job Rotation as a Mechanism for Learning," CLS Working Papers 00-4, University of Aarhus, Aarhus School of Business, Centre for Labour Market and Social Research. [Downloadable!]
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  21. Bryan Engelhardt & David L. Fuller, 2009. "Efficient Labor Force Participation with Search and Bargaining," Working Papers 0909, College of the Holy Cross, Department of Economics, revised Nov 2009. [Downloadable!]
  22. Launov, Andrey, 2003. "A Study of the Austrian Labor Market Dynamics Using a Model of Search Equilibrium," IZA Discussion Papers 801, Institute for the Study of Labor (IZA). [Downloadable!]
  23. 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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