This file is part of IDEAS , which uses RePEc data
[ Papers |
Articles |
Software |
Books |
Chapters |
Authors |
Institutions |
JEL Classification |
NEP reports |
Search |
New papers by email |
Author registration |
Rankings |
Volunteers |
FAQ |
Blog |
Help! ]
Evaluating the Performance of the Search and Matching Model Author info | Abstract | Publisher info | Download info | Related research | Statistics Eran Yashiv
Additional information is available for the following
registered author(s):
Does the search and matching model fit aggregate U.S. labor market data? While the modelhas become an important tool of macroeconomic analysis, recent literature pointed to somefailures in accounting for the data. This paper aims to answer two questions: (i) Does themodel fit the data, and, if so, on what dimensions? (ii) Does the data "fit" the model, i.e. whatare the data which are relevant to be explained by the model? The analysis shows that themodel does fit certain specifications of the data on many dimensions, though not on all. Thisincludes capturing the high persistence and high volatility of most of the key variables, aswell as the negative co-variation of unemployment and vacancies. It offers a workable,empirically-grounded version of the model for the analysis of aggregate U.S. labor marketdynamics. The paper provides macroeconomists guidance concerning the relevant "buildingblock" for modelling the labor market, both in terms of the model and in terms of the data.
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
page . Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
Paper provided by Centre for Economic Performance, LSE in its series CEP Discussion Papers with number
dp0677.
Download reference. The following formats are available: HTML
(with abstract ),
plain text
(with abstract ),
BibTeX ,
RIS (EndNote, RefMan, ProCite),
ReDIF
Length:
Date of creation: Feb 2005Date of revision:
Handle: RePEc:cep:cepdps:dp0677Contact details of provider: Web page: http://cep.lse.ac.uk/_new/publications/series.asp?prog=CEP
For technical questions regarding this item, or to correct its listing, contact: ().
Keywords: search ; matching ; U.S. labor market ; vacancies ; labor market flows ; business cycles. ; Other versions of this item:
Find related papers by JEL classification: E24 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles J32 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Nonwage Labor Costs and Benefits; Private Pensions J63 - Labor and Demographic Economics - - Mobility, Unemployment, and Vacancies - - - Turnover; Vacancies; Layoffs
This paper has been announced in the following NEP Reports :
References listed on IDEAS 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.: Cahuc, Pierre & Marque, François & Wasmer, Etienne, 2004.
"A Theory of Wages and Labour Demand with Intra-firm Bargaining and Matching Frictions ,"
CEPR Discussion Papers
4605, C.E.P.R. Discussion Papers.
[Downloadable!] (restricted)
Other versions: Rogerson, Richard, 1997.
"Theory Ahead of Language in the Economics of Unemployment ,"
Journal of Economic Perspectives ,
American Economic Association, vol. 11(1), pages 73-92, Winter.
[Downloadable!] (restricted)
Eran Yashiv, 2005.
"Forward-Looking Hiring Behavior and the Dynamics of the Aggregate Labor Market ,"
2005 Meeting Papers
360, Society for Economic Dynamics.
[Downloadable!]
Shigeru Fujita, 2004.
"Vacancy persistence ,"
Working Papers
04-23, Federal Reserve Bank of Philadelphia.
[Downloadable!]
Other versions: Kim B. Clark & Lawrence H. Summers, 1979.
"Labor Market Dynamics and Unemployemnt: A Reconsideration ,"
Brookings Papers on Economic Activity ,
Economic Studies Program, The Brookings Institution, vol. 10(1979-1), pages 13-72.
[Downloadable!]
Alan Krueger, 1999.
"Measuring Labor's Share ,"
Working Papers
792, Princeton University, Department of Economics, Industrial Relations Section..
[Downloadable!]
Other versions:
Alan Krueger, 1999.
"Measuring Labor's Share ,"
NBER Working Papers
7006, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted) Alan B. Krueger, 1999.
"Measuring Labor's Share ,"
American Economic Review ,
American Economic Association, vol. 89(2), pages 45-51, May.
[Downloadable!] (restricted) Anderson, Patricia M & Meyer, Bruce D, 1997.
"Unemployment Insurance Takeup Rates and the After-Tax Value of Benefits ,"
The Quarterly Journal of Economics ,
MIT Press, vol. 112(3), pages 913-37, August.
Robert Shimer, 2005.
"The Cyclical Behavior of Equilibrium Unemployment and Vacancies ,"
American Economic Review ,
American Economic Association, vol. 95(1), pages 25-49, March.
[Downloadable!]
Marcelo Veracierto, 2002.
"On the cyclical behavior of employment, unemployment and labor force participation ,"
Working Paper Series
WP-02-12, Federal Reserve Bank of Chicago.
[Downloadable!]
Other versions: Eran Yashiv, 2000.
"Hiring as Investment Behavior ,"
Review of Economic Dynamics ,
Elsevier for the Society for Economic Dynamics, vol. 3(3), pages 486-522, July.
[Downloadable!] (restricted)
Other versions: Robert E. Hall, 2005.
"Job Loss, Job Finding, and Unemployment in the U.S. Economy Over the Past Fifty Years ,"
NBER Working Papers
11678, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Yashiv, Eran, 2005.
"Evaluating the Performance of the Search and Matching Model ,"
CEPR Discussion Papers
5363, C.E.P.R. Discussion Papers.
[Downloadable!] (restricted)
Eran Yashiv, 2000.
"The Determinants of Equilibrium Unemployment ,"
American Economic Review ,
American Economic Association, vol. 90(5), pages 1297-1322, December.
[Downloadable!] (restricted)
Other versions: Mortensen, Dale T. & Pissarides, Christopher A., 1999.
"Job reallocation, employment fluctuations and unemployment ,"
Handbook of Macroeconomics ,
in: J. B. Taylor & M. Woodford (ed.), Handbook of Macroeconomics, edition 1, volume 1, chapter 18, pages 1171-1228
Elsevier.
[Downloadable!] (restricted)
Other versions: Yashiv, Eran, 2004.
"Macroeconomic policy lessons of labor market frictions ,"
European Economic Review ,
Elsevier, vol. 48(2), pages 259-284, April.
[Downloadable!] (restricted)
Mortensen, Dale T & Pissarides, Christopher A, 1994.
"Job Creation and Job Destruction in the Theory of Unemployment ,"
Review of Economic Studies ,
Blackwell Publishing, vol. 61(3), pages 397-415, July.
[Downloadable!] (restricted)
Other versions: Hoyt Bleakley & Ann E. Ferris & Jeffrey C. Fuhrer, 1999.
"New data on worker flows during business cycles ,"
New England Economic Review ,
Federal Reserve Bank of Boston, issue Jul, pages 49-76.
[Downloadable!]
Monika Merz & Eran Yashiv, 2007.
"Labor and the Market Value of the Firm ,"
American Economic Review ,
American Economic Association, vol. 97(4), pages 1419-1431, September.
[Downloadable!]
Other versions:
Merz, Monika & Yashiv, Eran, 2003.
"Labor and the Market Value of the Firm ,"
IZA Discussion Papers
965, Institute for the Study of Labor (IZA).
[Downloadable!] Monika Merz & Eran Yashiv, 2005.
"Labor and the Market Value of the Firm ,"
CEP Discussion Papers
dp0690, Centre for Economic Performance, LSE.
[Downloadable!] Merz, Monika & Yashiv, Eran, 2004.
"Labour and the Market Value of the Firm ,"
CEPR Discussion Papers
4184, C.E.P.R. Discussion Papers.
[Downloadable!] (restricted) Mortensen, Dale T. & Pissarides, Christopher A., 1999.
"New developments in models of search in the labor market ,"
Handbook of Labor Economics ,
in: O. Ashenfelter & D. Card (ed.), Handbook of Labor Economics, edition 1, volume 3, chapter 39, pages 2567-2627
Elsevier.
[Downloadable!] (restricted)
Other versions: Mortensen, Dale T, 1982.
"Property Rights and Efficiency in Mating, Racing, and Related Games ,"
American Economic Review ,
American Economic Association, vol. 72(5), pages 968-79, December.
[Downloadable!] (restricted)
Oliver Jean Blanchard & Peter Diamond, 1990.
"The Cyclical Behovior of the Gross Flows of U.S. Workers ,"
Brookings Papers on Economic Activity ,
Economic Studies Program, The Brookings Institution, vol. 21(1990-2), pages 85-156.
[Downloadable!]
Diamond, Peter A, 1982.
"Wage Determination and Efficiency in Search Equilibrium ,"
Review of Economic Studies ,
Blackwell Publishing, vol. 49(2), pages 217-27, April.
[Downloadable!] (restricted)
Cole, Harold L & Rogerson, Richard, 1999.
"Can the Mortensen-Pissarides Matching Model Match the Business-Cycle Facts? ,"
International Economic Review ,
Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 40(4), pages 933-59, November.
Other versions: Merz, Monika, 1995.
"Search in the labor market and the real business cycle ,"
Journal of Monetary Economics ,
Elsevier, vol. 36(2), pages 269-300, November.
[Downloadable!] (restricted)
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)
Other versions: Abowd, John M & Zellner, Arnold, 1985.
"Estimating Gross Labor-Force Flows ,"
Journal of Business & Economic Statistics ,
American Statistical Association, vol. 3(3), pages 254-83, June.
Stephen R. G. Jones & Craig Riddell, 2000.
"The Dynamics of US Labor Force Attachment ,"
Econometric Society World Congress 2000 Contributed Papers
0011, Econometric Society.
[Downloadable!]
Bruce Fallick & Charles A. Fleischman, 2004.
"Employer-to-employer flows in the U.S. labor market: the complete picture of gross worker flows ,"
Finance and Economics Discussion Series
2004-34, Board of Governors of the Federal Reserve System (U.S.).
[Downloadable!]
repec:fth:prinin:413 is not listed on IDEAS
Andolfatto, David, 1996.
"Business Cycles and Labor-Market Search ,"
American Economic Review ,
American Economic Association, vol. 86(1), pages 112-32, March.
[Downloadable!] (restricted)
Eran Yashiv, 2005.
"Evaluating the Performance of the Search and Matching Model ,"
CEP Discussion Papers
dp0677, Centre for Economic Performance, LSE.
[Downloadable!]
Other versions:
Eran Yashiv, 2006.
"Evaluating the Performance of the Search and Matching Model ,"
IZA Discussion Papers
1931, Institute for the Study of Labor (IZA).
[Downloadable!] Yashiv, Eran, 2006.
"Evaluating the performance of the search and matching model ,"
European Economic Review ,
Elsevier, vol. 50(4), pages 909-936, May.
[Downloadable!] (restricted) Pissarides, Christopher A, 1994.
"Search Unemployment with On-the-Job Search ,"
Review of Economic Studies ,
Blackwell Publishing, vol. 61(3), pages 457-75, July.
[Downloadable!] (restricted)
Other versions: Stole, Lars A & Zwiebel, Jeffrey, 1996.
"Intra-firm Bargaining under Non-binding Contracts ,"
Review of Economic Studies ,
Blackwell Publishing, vol. 63(3), pages 375-410, July.
[Downloadable!] (restricted)
Katharine G. Abraham & John C. Haltiwanger, 1995.
"Real Wages and the Business Cycle ,"
Journal of Economic Literature ,
American Economic Association, vol. 33(3), pages 1215-1264, September.
[Downloadable!] (restricted)
Katharine G. Abraham, 1987.
"Help-Wanted Advertising, Job Vacancies, and Unemployment ,"
Brookings Papers on Economic Activity ,
Economic Studies Program, The Brookings Institution, vol. 18(1987-1), pages 207-248.
[Downloadable!]
Dale T. Mortensen, 1978.
"Specific Capital and Labor Turnover ,"
Bell Journal of Economics ,
The RAND Corporation, vol. 9(2), pages 572-586, Autumn.
[Downloadable!] (restricted)
Oliver Jean Blanchard & Peter Diamond, 1989.
"The Beveridge Curve ,"
Brookings Papers on Economic Activity ,
Economic Studies Program, The Brookings Institution, vol. 20(1989-1), pages 1-76.
[Downloadable!]
Katharine G. Abraham & James R. Spletzer & Jay C. Stewart, 1999.
"Why Do Different Wage Series Tell Different Stories? ,"
American Economic Review ,
American Economic Association, vol. 89(2), pages 34-39, May.
[Downloadable!] (restricted)
Full
references Cited by : (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.) This item has more than 25 citations. To prevent cluttering this page, these citations are listed on a separate page .
Access and
download statistics Did you know? All the bibliographic data shown here has been contributed by volunteers, thereby helping to keep this service free.
This page was last updated on 2009-11-18.
This information is provided to you by IDEAS at the Department of Economics , College of Liberal Arts and Sciences , University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics .