AbstractWe construct a simple equilibrium search model in which workers accumulate information about previously met employment contacts. We term the latter search capital. Here search capital (partially) insures workers against adverse shocks. The model provides a theory of job-to-job transitions that are associated with voluntary or involuntary mobility and with wage rises or wage cuts. It also shows why low wage and younger workers are associated with a higher probability of becoming unemployed.
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Bibliographic InfoPaper provided by CESifo Group Munich in its series CESifo Working Paper Series with number 3741.
Date of creation: 2012
Date of revision:
search capital; turnover; wage cuts;
Other versions of this item:
- J62 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Job, Occupational and Intergenerational Mobility; Promotion
- J63 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Turnover; Vacancies; Layoffs
- J64 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Unemployment: Models, Duration, Incidence, and Job Search
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- Postel-Vinay & Robin, 2002.
"Equilibrium wage dispersion with worker and employer heterogeneity,"
155908, Institut National de la Recherche Agronomique, France.
- Fabien Postel-Vinay & Jean-Marc Robin, 2002. "Equilibrium Wage Dispersion with Worker and Employer Heterogeneity," Econometrica, Econometric Society, Econometric Society, vol. 70(6), pages 2295-2350, November.
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- Mark B. Stewart, 2007.
"The interrelated dynamics of unemployment and low-wage employment,"
Journal of Applied Econometrics, John Wiley & Sons, Ltd.,
John Wiley & Sons, Ltd., vol. 22(3), pages 511-531.
- Stewart, Mark, 2006. "The Inter-related Dynamics of Unemployment and Low-Wage Employment," The Warwick Economics Research Paper Series (TWERPS) 741, University of Warwick, Department of Economics.
- Ãƒâ€°va NagypÃƒÂ¡l, 2006. "On the extent of job-to-job transitions," 2006 Meeting Papers, Society for Economic Dynamics 10, Society for Economic Dynamics.
- Cappellari, Lorenzo & Tatsiramos, Konstantinos, 2011. "Friendsâ€™ networks and job finding rates," ISER Working Paper Series 2011-21, Institute for Social and Economic Research.
- Helen Connolly & Peter Gottschalk, 2008. "Wage Cuts as Investment in Future Wage Growth," LABOUR, CEIS, CEIS, vol. 22(1), pages 1-22, 03.
- repec:boc:bocoec:543 is not listed on IDEAS
- Jolivet, Gregory & Postel-Vinay, Fabien & Robin, Jean-Marc, 2006. "The empirical content of the job search model: Labor mobility and wage distributions in Europe and the US," European Economic Review, Elsevier, Elsevier, vol. 50(4), pages 877-907, May.
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