Job Creation and Job Destruction in the Theory of Unemployment
AbstractIn this paper we model a job-specific shock process in the matching model of unemployment with non-cooperative wage behaviour. We obtain endogenous job creation and job destruction processes and study their properties. We show that an aggregate shock induces negative correlation between job creation and job destruction whereas a dispersion shock induces positive correlations. The job destruction process is shown to have more volatile dynamics than the job creation process. In simulations we show that an aggregate shock process proxies reasonably well the cyclical behaviour of job creation and job destruction in the United States.
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Bibliographic InfoPaper provided by Centre for Economic Performance, LSE in its series CEP Discussion Papers with number dp0110.
Date of creation: May 1993
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Web page: http://cep.lse.ac.uk/_new/publications/series.asp?prog=CEP
Other versions of this item:
- Mortensen, Dale T & Pissarides, Christopher A, 1994. "Job Creation and Job Destruction in the Theory of Unemployment," Review of Economic Studies, Wiley Blackwell, vol. 61(3), pages 397-415, July.
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Blog mentionsAs found by EconAcademics.org, the blog aggregator for Economics research:
- Diamond, Mortensen et Pissarides, Nobel d'Ã©conomie 2010
by Alexandre Delaigue in Econoclaste on 2010-10-11 14:49:33
- ViÅ¡e o Diamondu
by cronomy in Cronomy on 2010-10-12 04:39:59
- Rethinking the labor matching function
by Economic Logician in Economic Logic on 2009-03-13 15:14:00
- Nobel de economía 2010 para investigadores del desempleo
by Marco Antonio Moreno in Elblogsalmon on 2010-10-11 16:39:00
- Peter A. Diamond, Dale T. Mortensen, Christopher A. Pissarides
by jccavalcanti in JCC.com on 2010-11-03 16:45:18
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