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Hiring as Investment Behavior Author info | Abstract | Publisher info | Download info | Related research | Statistics Yashiv, E.
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This paper explores the determinants and stochastic properties of hiring at the aggregate, macroeconomic level. At the core of the analysis is a present value relation which defines the worker's "asset value" for the firm and determines optimal hiring. The paper validates this relation using volatility tests and infers the unobserved asset values by estimating it.
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Paper provided by Tel Aviv in its series Papers with number
35-99.
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Length: 34 pages
Date of creation: 1999Date of revision:
Handle: RePEc:fth:teavfo:35-99Contact details of provider: Postal: Israel TEL-AVIV UNIVERSITY, THE FOERDER INSTITUTE FOR ECONOMIC RESEARCH, RAMAT AVIV 69 978 TEL AVIV ISRAEL. Phone: 972-3-640-9255 Fax: 972-3-640-5815 Email: Web page: http://econ.tau.ac.il/research/foerder.asp More information through EDIRC
For technical questions regarding this item, or to correct its listing, contact: (Thomas Krichel).
Keywords: HIRING ; LABOUR MARKET ; Other versions of this item:
Find related papers by JEL classification: J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure J23 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Demand L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General
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.:
David K. Backus & Patrick J. Kehoe & Finn E. Kydland, 1993.
"International Business Cycles: Theory and Evidence ,"
Working Papers
93-21, New York University, Leonard N. Stern School of Business, Department of Economics.
Other versions: Burda, Michael & Wyplosz, Charles, 1994.
"Gross worker and job flows in Europe ,"
European Economic Review ,
Elsevier, vol. 38(6), pages 1287-1315, June.
[Downloadable!] (restricted)
Other versions: John M. Abowd & Francis Kramarz, 1997.
"The Costs of Hiring and Separations ,"
NBER Working Papers
6110, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Other versions: Hansen, Lars Peter, 1982.
"Large Sample Properties of Generalized Method of Moments Estimators ,"
Econometrica ,
Econometric Society, vol. 50(4), pages 1029-54, July.
[Downloadable!] (restricted)
Yashiv, E., 1999.
"The Determinants of Equilibrium Unemployment ,"
Papers
36-99, Tel Aviv.
Other versions: Diamond, Peter A, 1982.
"Aggregate Demand Management in Search Equilibrium ,"
Journal of Political Economy ,
University of Chicago Press, vol. 90(5), pages 881-94, October.
[Downloadable!] (restricted)
Other versions: Dale T. Mortensen, 1982.
"The Matching Process as a Noncooperative Bargaining Game ,"
NBER Chapters ,
in: The Economics of Information and Uncertainty, pages 233-258
National Bureau of Economic Research, Inc.
[Downloadable!]
Dale T. Mortensen, 1979.
"The Matching Process as a Non-Cooperative/Bargaining Game ,"
Discussion Papers
384, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
[Downloadable!]
Merz, Monika, 1999.
"Heterogeneous job-matches and the cyclical behavior of labor turnover ,"
Journal of Monetary Economics ,
Elsevier, vol. 43(1), pages 91-124, February.
[Downloadable!] (restricted)
Sargent, Thomas J, 1978.
"Estimation of Dynamic Labor Demand Schedules under Rational Expectations ,"
Journal of Political Economy ,
University of Chicago Press, vol. 86(6), pages 1009-44, December.
[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.
Cochrane, John H, 1992.
"Explaining the Variance of Price-Dividend Ratios ,"
Review of Financial Studies ,
Oxford University Press for Society for Financial Studies, vol. 5(2), pages 243-80.
[Downloadable!] (restricted)
Other versions: Cochrane, John H., 1991.
"Volatility tests and efficient markets : A review essay ,"
Journal of Monetary Economics ,
Elsevier, vol. 27(3), pages 463-485, June.
[Downloadable!] (restricted)
Other versions:
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.)
Yashiv, Eran, 2002.
"Macroeconomic Policy Lessons of Labor Market Frictions ,"
IZA Discussion Papers
446, Institute for the Study of Labor (IZA).
[Downloadable!]
Federico S. Mandelman & Francesco Zanetti, 2008.
"Technology shocks, employment, and labor market frictions ,"
Working Paper
2008-10, Federal Reserve Bank of Atlanta.
[Downloadable!]
Eran Yashiv, 2006.
"Evaluating the Performance of the Search and Matching Model ,"
IZA Discussion Papers
1931, Institute for the Study of Labor (IZA).
[Downloadable!]
Other versions:
Eran Yashiv, 2005.
"Evaluating the Performance of the Search and Matching Model ,"
CEP Discussion Papers
dp0677, Centre for Economic Performance, LSE.
[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) Juha Kilponen & Juuso Vanhala, 2009.
"Productivity and Job Flows - Heterogeneity of New Hires and Continuing Jobs in the Business Cycle ,"
Working Paper Series
1080, European Central Bank.
[Downloadable!]
Other versions: Yashiv, Eran, 2005.
"Evaluating the Performance of the Search and Matching Model ,"
CEPR Discussion Papers
5363, C.E.P.R. Discussion Papers.
[Downloadable!] (restricted)
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