An empirical equilibrium job search model with continuously distributed heterogeneity of workers' opportunity costs of employment and firms productivities, and search on the job
AbstractIn this paper we present and estimate a synthesis of previous equilibrium search models: allowing for continuous distributions of workers opportunity costs of employment, as well as firms' productivities. The model allows for on-the-job search, and we assume that job offer arrival rates for workers are independent of their labor market state. We derive the theoretical implications of these assumptions, we provide simulations, and we develop a semi-parametric estimation procedure that we apply to a dataset of individual labor market histories.
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Bibliographic InfoPaper provided by VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics in its series Serie Research Memoranda with number 0002.
Date of creation: 1998
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Web page: http://www.feweb.vu.nl
Labor market equilibrium; wages; heterogeneity; unemployment; unemployment benefits; frictions;
Find related papers by JEL classification:
- J6 - Labor and Demographic Economics - - Mobility, Unemployment, and Vacancies
- J3 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs
- D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information
- C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
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