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A Search Model with a Quasi-Network

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  • João Miguel Ejarque

    (Department of Economics, University of Copenhagen)

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    Abstract

    This paper adds a quasi-network to a search model of the labor market. Fitting the model to an average unemployment rate and to other moments in the data implies the presence of the network is not noticeable in the basic properties of the unemployment and job finding rates. However, the network creates downward sloping reemployment hazards which the basic model does not, and under increasing network returns these hazards are significantly convex as we see in the data. Going into more detail we find that the network gets partially destroyed in periods of high unemployment and generates less job creation per link, while at the same time the jobs it does create, it does so with fewer links.

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    File URL: http://www.econ.ku.dk/english/research/publications/wp/dp_2010/1023.pdf/
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    Bibliographic Info

    Paper provided by University of Copenhagen. Department of Economics in its series Discussion Papers with number 10-23.

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    Length: 27 pages
    Date of creation: Feb 2009
    Date of revision: Sep 2010
    Handle: RePEc:kud:kuiedp:1023

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    Related research

    Keywords: duration; networks; search; unemployment;

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    References

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    1. Ramey, Garey & Shigeru Fujita, 2006. "The Cyclicality of Job Loss and Hiring," University of California at San Diego, Economics Working Paper Series qt4nz8p839, Department of Economics, UC San Diego.
    2. Dale T. Mortensen & Eva Nagypal, 2005. "More on Unemployment and Vacancy Fluctuations," NBER Working Papers 11692, National Bureau of Economic Research, Inc.
    3. John T. Addison & Pedro Portugal, 2000. "Unemployment Duration: Competing and Defective Risks," Working Papers w200001, Banco de Portugal, Economics and Research Department.
    4. Larsen, B., 1998. "Minimum Wages, Technological Progress and Loss of Skill," Papers 98-03, Centre for Labour Market and Social Research, Danmark-.
    5. John T. Addison & Pedro Portugal, 1998. "Job Search Methods and Outcomes," Working Papers w199808, Banco de Portugal, Economics and Research Department.
    6. Cooper, Russell & Haltiwanger, John & Willis, Jonathan L., 2007. "Search frictions: Matching aggregate and establishment observations," Journal of Monetary Economics, Elsevier, vol. 54(Supplemen), pages 56-78, September.
    7. Yashiv, Eran, 2006. "U.S. Labor Market Dynamics Revisited," IZA Discussion Papers 2455, Institute for the Study of Labor (IZA).
    8. Renato Faccini & Salvador Ortigueira, 2008. "Labor-Market Volatility in the Search-and-Matching Model: The Role of Investment-Specific Technology Shocks," Economics Working Papers ECO2008/39, European University Institute.
    9. Luca P. Merlino Autonoma & Andrea Galeotti, 2009. "Endogenous job contact networks," 2009 Meeting Papers 133, Society for Economic Dynamics.
    10. Addison, John T & Portugal, Pedro, 1989. "Job Displacement, Relative Wage Changes, and Duration of Unemployment," Journal of Labor Economics, University of Chicago Press, vol. 7(3), pages 281-302, July.
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