Social Interactions, Local Spillovers and Unemployment
I analyse a model that explicitly incorporates local interactions and allows agents to exchange information about job openings within their social networks. Agents are more likely to be employed if their social contacts are also employed. The model generates a stationary distribution of unemployment that exhibits positive spatial correlations. I estimate the model via an indirect inference procedure, using Census Tract data for Chicago. I find a significantly positive amount of social interactions across neighbouring tracts. The local spillovers are stronger for areas with less educated workers and higher fractions of minorities. Furthermore, they are shaped by ethnic dividing lines and neighbourhood boundaries.
(This abstract was borrowed from another version of this item.)
|Date of creation:||1997|
|Contact details of provider:|| Postal: C.V. Starr Center, Department of Economics, New York University, 19 W. 4th Street, 6th Floor, New York, NY 10012|
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|Order Information:|| Postal: C.V. Starr Center, Department of Economics, New York University, 19 W. 4th Street, 6th Floor, New York, NY 10012|
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