An Equilibrium Search Model with Capital Accumulation
AbstractWe extend the basic equilibrium search model of Burdett-Mortnesen with a human capital accumulating wage function and solve for the new equilibrium distribution of wages. We find an equilibrium distribution of earned wages with no upper bound of the support and with density having a decreasing tail. We develop methods for estimating the wage growth parameter super-consistently at rate n and we implement our method on a data example.
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Bibliographic InfoPaper provided by Centre for Labour Market and Social Research, Danmark- in its series Papers with number 98-13.
Date of creation: 1998
Date of revision:
Contact details of provider:
Postal: Danmark; Centre for Labour Market and Social Research. Science Park Aarhus Wieds Vej 10C, 8000 Aarhus C, Danmark
Phone: +45 8942 2350
Fax: +45 8942 2365
Web page: http://www.cls.dk/
More information through EDIRC
UNEMPLOYMENT ; WAGES ; MODELS ; JOB SEARCHING Aarhus C; Danmark.40p.;
Find related papers by JEL classification:
- C13 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Estimation: General
- C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
- C41 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Duration Analysis; Optimal Timing Strategies
- C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
- J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
- J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
- J41 - Labor and Demographic Economics - - Particular Labor Markets - - - Labor Contracts
- J42 - Labor and Demographic Economics - - Particular Labor Markets - - - Monopsony; Segmented Labor Markets
- J64 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Unemployment: Models, Duration, Incidence, and Job Search
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