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Empirical Inference with Equilibrium Search Models of the Labor Market

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Author Info
Gerard J. van den Berg () (Vrije Universiteit Amsterdam)

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Abstract

This paper examines the use of equilibrium search models in the empirical analysis of labor markets. We survey the literature on structural estimation of these models with micro data on wages and durations, and we discuss the advantages of the equilibrium approach, for policy analysis and for understanding a number of stylized facts that are hard to explain otherwise. During the past years, substantial progress has been made in terms of the explanatory power of these models. We finish with a critical examination of the extent to which the approach can be fruitfully applied to (matched worker-)firm data.

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Paper provided by Tinbergen Institute in its series Tinbergen Institute Discussion Papers with number 98-089/3.

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Date of creation: 27 Aug 1998
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Handle: RePEc:dgr:uvatin:19980089

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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.:
  1. Eckstein, Zvi & Wolpin, Kenneth I, 1995. "Duration to First Job and the Return to Schooling: Estimates from a Search-Matching Model," Review of Economic Studies, Blackwell Publishing, vol. 62(2), pages 263-86, April. [Downloadable!] (restricted)
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  2. Koning, Pierre & Berg, Gerard J. van den & Ridder, Geert, 1997. "A structural analysis of job search methods and subsequent wages," Serie Research Memoranda 0036, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics. [Downloadable!]
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  3. Eckstein, Z. & Wolpin, K.I., 1995. "Estimating the Effect of Labor Market Discrimination on Black-White Differences in Wage Offers Using a Search- Matching-Bargaining Model," Papers 24-95, Tel Aviv - the Sackler Institute of Economic Studies.
  4. van den Berg, Gerard J, 1994. "The Effects of Changes of the Job Offer Arrival Rate on the Duration of Unemployment," Journal of Labor Economics, University of Chicago Press, vol. 12(3), pages 478-98, July. [Downloadable!] (restricted)
  5. Blau, David M, 1991. "Search for Nonwage Job Characteristics: A Test of the Reservation Wage Hypothesis," Journal of Labor Economics, University of Chicago Press, vol. 9(2), pages 186-205, April. [Downloadable!] (restricted)
  6. Koning, Pierre & Ridder, Geert & van den Berg, Gerard J, 1995. "Structural and Frictional Unemployment in an Equilibrium Search Model with Heterogeneous Agents," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 10(S), pages S133-51, Suppl. De. [Downloadable!] (restricted)
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  7. James J. Heckman & Christopher J. Flinn, 1982. "New Methods for Analyzing Structural Models of Labor Force Dynamics," NBER Working Papers 0856, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  8. Albrecht, James W & Axell, Bo, 1984. "An Equilibrium Model of Search Unemployment," Journal of Political Economy, University of Chicago Press, vol. 92(5), pages 824-40, October. [Downloadable!] (restricted)
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  9. John M. Abowd & Francis Kramarz & David N. Margolis, 1994. "High-Wage Workers and High-Wage Firms," CIRANO Working Papers 94s-23, CIRANO. [Downloadable!]
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  10. Bound, John, et al, 1994. "Evidence on the Validity of Cross-Sectional and Longitudinal Labor Market Data," Journal of Labor Economics, University of Chicago Press, vol. 12(3), pages 345-68, July. [Downloadable!] (restricted)
  11. Bowlus, Audra J & Kiefer, Nicholas M & Neumann, George R, 1995. "Estimation of Equilibrium Wage Distributions with Heterogeneity," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 10(S), pages S119-31, Suppl. De. [Downloadable!] (restricted)
  12. MacMinn, Richard D, 1980. "Job Search and the Labor Dropout Problem Reconsidered," The Quarterly Journal of Economics, MIT Press, vol. 95(1), pages 69-87, August. [Downloadable!] (restricted)
  13. Stephen Machin & Alan Manning, 2002. "The Structure of Wages in What Should be a Competitive Labour Market," CEP Discussion Papers dp0532, Centre for Economic Performance, LSE. [Downloadable!]
  14. Christian Bontemps & Jean-Marc Robin & Gerard J. van den Berg, 1998. "An Empirical Equilibrium Job Search Model with continuously Distributed Heterogeneity of Workers' Opportunity Costs of Employment and Firms' Productivities, and Search on the Job," Tinbergen Institute Discussion Papers 98-026/3, Tinbergen Institute.
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  15. Mortensen, Dale T. & Vishwanath, Tara, 1994. "Personal contacts and earnings : It is who you know!," Labour Economics, Elsevier, vol. 1(2), pages 187-201, March. [Downloadable!] (restricted)
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  16. van den Berg, Gerard J, 1990. "Nonstationarity in Job Search Theory," Review of Economic Studies, Blackwell Publishing, vol. 57(2), pages 255-77, April. [Downloadable!] (restricted)
  17. van den Berg, Gerard J, 1990. "Search Behaviour, Transitions to Nonparticipation and the Duration of Unemployment," Economic Journal, Royal Economic Society, vol. 100(402), pages 842-65, September. [Downloadable!] (restricted)
  18. Alan Manning, 1994. "Labour Markets with Company Wage Policies," CEP Discussion Papers dp0214, Centre for Economic Performance, LSE.
  19. Atkinson, Anthony B & Micklewright, John, 1991. "Unemployment Compensation and Labor Market Transitions: A Critical Review," Journal of Economic Literature, American Economic Association, vol. 29(4), pages 1679-1727, December. [Downloadable!] (restricted)
  20. Flinn, Christopher J., 1997. "Labor Market Structure and Welfare: A Comparison of Italy and the U.S," Working Papers 97-07, C.V. Starr Center for Applied Economics, New York University. [Downloadable!]
  21. Koning, Pierre & Berg, Gerard J. van den & Ridder, Geert, 1998. "Semi-nonparametric estimation of an equilibrium search model," Serie Research Memoranda 0003, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics. [Downloadable!]
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  22. H. Bunzel & B. J. Christensen & P. Jensen & N. M. Kiefer & L. Korsholm & L. Muus & G. R. Neumann & M. Rosholm, 2001. "Specification and Estimation of Equilibrium Search Models," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 4(1), pages 90-126, January. [Downloadable!] (restricted)
  23. Blau, David M. & Robins, Philip K., 1986. "Job search, wage offers, and unemployment insurance," Journal of Public Economics, Elsevier, vol. 29(2), pages 173-197, March. [Downloadable!] (restricted)
  24. Berg, Gerard J. van den, 1999. "Multiple equilibria and minimum wages in labor markets with informational frictions and heterogeneous production technologies," Serie Research Memoranda 0044, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics. [Downloadable!]
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  25. Yoon, Bong Joon, 1981. "A Model of Unemployment Duration with Variable Search Intensity," The Review of Economics and Statistics, MIT Press, vol. 63(4), pages 599-609, November. [Downloadable!] (restricted)
  26. Topel, Robert H & Ward, Michael P, 1992. "Job Mobility and the Careers of Young Men," The Quarterly Journal of Economics, MIT Press, vol. 107(2), pages 439-79, May. [Downloadable!] (restricted)
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  27. Christian Bontemps & Jean-Marc Robin & Gerard J. van den Berg, 1997. "Equilibrium Search with Productivity Dispersion: Theory and Estimation," Tinbergen Institute Discussion Papers 97-081/3, Tinbergen Institute.
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  28. Bontemps, C. & Robin, J.M. & van den Berg, G.J., 1998. "Equilibrium Search with Continuous Productivity Dispersion: Theory and Non-Parametric Estimation," Papers 98-07, Centre for Labour Market and Social Research, Danmark-.
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  29. Alan Manning, 1993. "Endogenous Labour Market Segmentation in a Matching Model," CEP Discussion Papers dp0126, Centre for Economic Performance, LSE.
  30. Lancaster, Tony & Chesher, Andrew, 1983. "An Econometric Analysis of Reservation Wages," Econometrica, Econometric Society, vol. 51(6), pages 1661-76, November. [Downloadable!] (restricted)
  31. Diamond, Peter A., 1971. "A model of price adjustment," Journal of Economic Theory, Elsevier, vol. 3(2), pages 156-168, June. [Downloadable!] (restricted)
  32. Berg, G.J. & Ridder, G., 1993. "Estimating an equilibrium search model from wage data," Serie Research Memoranda 0040, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics. [Downloadable!]
  33. Bowlus, A.J. & Kiefer, N.M. & Neumann, G.R., 1997. "Equilibrium Search Models and The Transition from School to Work," Working Papers 97-05, University of Iowa, Department of Economics.
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  34. Narendranathan, Wiji & Nickell, Stephen, 1985. "Modelling the process of job search," Journal of Econometrics, Elsevier, vol. 28(1), pages 29-49, April. [Downloadable!] (restricted)
  35. van den Berg, Gerard J, 1992. "A Structural Dynamic Analysis of Job Turnover and the Costs Associated with Moving to Another Job," Economic Journal, Royal Economic Society, vol. 102(414), pages 1116-33, September. [Downloadable!] (restricted)
  36. Bonnal, L. & Fougere, D., 1992. "Estimating the Structural Effect on the Unemployment Benefit of Job Search Cost," Papers 92.267, Toulouse - GREMAQ.
  37. Gerard J. van den Berg & Geert Ridder, 1998. "An Empirical Equilibrium Search Model of the Labor Market," Econometrica, Econometric Society, vol. 66(5), pages 1183-1222, September.
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  38. Audra J. Bowlus & Shannon N. Seitz, 1998. "Search Friction in the U.S. Labor Market," Tinbergen Institute Discussion Papers 98-113/3, Tinbergen Institute. [Downloadable!]
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.)

  1. Hugo Benitez-Silva, 2002. "Job Search Behavior At The End Of The Life Cycle," Working Papers, Center for Retirement Research at Boston College 2002-10, Center for Retirement Research. [Downloadable!]
  2. Gerard J. van den Berg, 1999. "Multiple Equilibria and Minimum Wages in Labor Markets with Informational Frictions and Heterogeneous Production Technologies," Tinbergen Institute Discussion Papers 99-085/3, Tinbergen Institute. [Downloadable!]
  3. Gerard J. van den Berg & Aico van Vuuren, 2006. "The Effect of Search Frictions on Wages," Tinbergen Institute Discussion Papers 06-077/3, Tinbergen Institute. [Downloadable!]
    Other versions:
  4. Getinet Astatike Haile, 2004. "Re-employment hazard of displaced German workers: evidence from the GSOEP," Working Papers 000284, Lancaster University Management School, Economics Department. [Downloadable!]
  5. Rasmus Lentz, 2009. "Optimal Unemployment Insurance in an Estimated Job Search Model with Savings," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 12(1), pages 37-57, January. [Downloadable!] (restricted)
  6. Svetlana Boyarchenko, 2004. "Search, layoffs and reservation wages when job offers follow a stochastic process," Macroeconomics 0409014, EconWPA. [Downloadable!]
  7. Hugo Benitez-Silva, 2001. "A Dynamic Model of Job Search Behavior over the Life Cycle with Empirical Applications," Computing in Economics and Finance 2001 100, Society for Computational Economics.
  8. Flabbi, Luca & Leonardi, Marco, 2008. "Sources of Earnings Instability: Estimates from an On-the-Job Search Model of the U.S. Labor Market," IZA Discussion Papers 3387, Institute for the Study of Labor (IZA). [Downloadable!]
  9. Galindo-Rueda, Fernando, 2002. "Endogenous Wage and Capital Dispersion, On-the-Job Search and the Matching Technology," IZA Discussion Papers 625, Institute for the Study of Labor (IZA). [Downloadable!]
  10. Tomi Kyyrä, 2007. "Estimating Equilibrium Search Models from Finnish Data," Finnish Economic Papers, Finnish Economic Association, vol. 20(2), pages 139-165, Autumn. [Downloadable!]
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  11. Markova Kseniya & Roshchin Sergey, . "Choice among Different Job Search Channels. The Evidence from Russian Labor Market," EERC Working Paper Series 04-05e, EERC Research Network, Russia and CIS. [Downloadable!]
  12. J. Ignacio Garcia-Perez, 2002. "Equilibrium search models: the role of the assumptions," Investigaciones Economicas, Fundación SEPI, vol. 26(2), pages 255-284, May. [Downloadable!]
    Other versions:
  13. Berg, Gerard J. van den, 1999. "Multiple equilibria and minimum wages in labor markets with informational frictions and heterogeneous production technologies," Serie Research Memoranda 0044, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics. [Downloadable!]
    Other versions:
  14. Garloff, Alfred, 2003. "Lohndispersion und Arbeitslosigkeit: Neuere Ansätze in der Suchtheorie," ZEW Discussion Papers 03-60, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research. [Downloadable!]
  15. Rasmus Lentz, 2003. "Optimal Unemployment Insurance in an Estimated Job Search Model with Savings," CAM Working Papers 2004-10, University of Copenhagen. Department of Economics. Centre for Applied Microeconometrics. [Downloadable!]
  16. Carlos Carrillo Tudela, 2004. "Recruitment Policy When Firms Observe Workers' Employment Status: an Equilibrium Search Approach," Economics Discussion Papers 584, University of Essex, Department of Economics. [Downloadable!]
  17. Martyn Andrews & Steve Bradley & Dave Stott & Richard Upward, 2006. "Why do job-seeker and vacancy hazards slope downwards? Estimating a two-sidedsearch model of the labour market," The School of Economics Discussion Paper Series 0635, Economics, The University of Manchester. [Downloadable!]
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  18. Melvyn G. Coles, 2001. "Equilibrium Wage Dispersion, Firm Size and Growth," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 4(1), pages 159-187, January. [Downloadable!] (restricted)
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