Measuring technical progress in matching models of the labour market
AbstractTechnical Progress in matching models of the labour market has not received serious attention. This article examines the impact on the results of these models when an attempt is made to allow time to enter in a realistic fashion, and finds that recently published results on the possibility of multiple equilibria are overturned. Also, different parametric representations of the matching technology are compared, with problems of more general forms not satisfying regularity conditions being identified. While the possibility of Pareto-improving government intervention due to multiple equilibria arising out of increasing returns to scale cannot be supported, the results suggest a role for government intervention in the labour market.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Applied Economics.
Volume (Year): 34 (2002)
Issue (Month): 6 ()
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Other versions of this item:
- Fox, K.J., 1996. "Measuring Technical Progress in Matching Models of the Labour Market," Papers 96/7, New South Wales - School of Economics.
- J60 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - General
- J41 - Labor and Demographic Economics - - Particular Labor Markets - - - Labor Contracts
- J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure
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- Burgess, Simon M. & Profit, Stefan, 1998.
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SFB 373 Discussion Papers
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