A Competitive Theory of Employment Dynamics
The authors develop a model of search and unemployment in an economy consisting of a large number of spatially separated local competitive labor markets and aggregate uncertainty. If aggregate shocks are positively autocorrelated, the implied cyclical behavior of the aggregate variables match those of empirical studies: worker movement and job creation are procyclical while total unemployment, job destruction, and job reallocation are countercyclical. Copyright 1997 by The Review of Economic Studies Limited.
Volume (Year): 64 (1997)
Issue (Month): 1 (January)
|Contact details of provider:|| Web page: http://www.blackwellpublishing.com/journal.asp?ref=0034-6527|
|Order Information:||Web: http://www.blackwellpublishing.com/subs.asp?ref=0034-6527|
When requesting a correction, please mention this item's handle: RePEc:bla:restud:v:64:y:1997:i:1:p:1-22. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing)or (Christopher F. Baum)
If references are entirely missing, you can add them using this form.