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Returns to scale in a matching model: evidence from disaggregated panel data

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Author Info
Aki Kangasharju
Jaakko Pehkonen
Sari Pekkala

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Abstract

The returns to scale in the matching function play an important role in models with endogenous search effort. Due to positive externalities, increasing returns to scale in matching can support high or low activity equilibrium in the labour market. In this study, we examine this issue using panel data from Finnish employment offices. The study finds that the results from the Cobb-Douglas and translog specification are qualitatively different. The CD specification of the matching function exhibits constant returns to scale. The translog specification, in turn, exhibits increasing returns to scale. The elasticity estimate for returns, using the preferred specification and minimum and maximum sample values for job seekers and vacancies, fall in the range of 1.1 to 1.6.

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Publisher Info
Article provided by Taylor and Francis Journals in its journal Applied Economics.

Volume (Year): 37 (2005)
Issue (Month): 1 (January)
Pages: 115-118
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Handle: RePEc:taf:applec:v:37:y:2005:i:1:p:115-118

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Melvyn Coles & B Petrongolo, 2003. "A Test Between Unemployment Theories Using Matching Data," CEP Discussion Papers dp0570, Centre for Economic Performance, LSE. [Downloadable!]
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  2. Burda, Michael C & Wyplosz, Charles, 1993. "Gross Worker and Job Flows in Europe," CEPR Discussion Papers 868, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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  3. S. Burgess & S. Profit, . "Externalities in the Matching of Workers and Firms in Britain," Sonderforschungsbereich 373 1998-19, Humboldt Universitaet Berlin.
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  4. Barbara Petrongolo & Christopher A. Pissarides, 2001. "Looking into the Black Box: A Survey of the Matching Function," Journal of Economic Literature, American Economic Association, vol. 39(2), pages 390-431, June. [Downloadable!] (restricted)
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  5. Burdett, Kenneth & Coles, Melvyn G & van Ours, Jan C, 1994. "Temporal Aggregation Bias in Stock-Flow Models," CEPR Discussion Papers 967, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
  6. Daniel Munich & Jan Svejnar & Katherine Terrell, 1998. "Worker-Firm Matching and Unemployment in Transition to a Market Economy: (Why) Were the Czechs More Successful than Others?," William Davidson Institute Working Papers Series 107, William Davidson Institute at the University of Michigan Stephen M. Ross Business School. [Downloadable!]
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(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Razzak, Weshah, 2008. "On The dynamic of search, matching and productivity in New Zealand and Australia," MPRA Paper 8262, University Library of Munich, Germany. [Downloadable!]
  2. Aki Kangasharju & Sanna-Mari Hynninen & Jaakko Pehkonen, 2006. "Regional Matching Frictions and Aggregate Unemployment," VATT Discussion Papers 383, Government Institute for Economic Research (VATT). [Downloadable!]
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  3. Sanna-Mari Ahtonen, 2004. "Matching across space: evidence from Finland," ERSA conference papers ersa04p205, European Regional Science Association. [Downloadable!]
  4. Godfrey Keller & Kevin Roberts & Margaret Stevens, 2007. "Unemployment, Particiation and Market Size," Economics Series Working Papers 362, University of Oxford, Department of Economics. [Downloadable!]
  5. Sanna-Mari Hynninen, 2005. "Labour market status of job seekers in regional matching processes," ERSA conference papers ersa05p499, European Regional Science Association. [Downloadable!]
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