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Matching With Phantoms

Author

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  • Bruno Decreuse

    () (GREQAM - Groupement de Recherche en Économie Quantitative d'Aix-Marseille - ECM - Ecole Centrale de Marseille - CNRS - Centre National de la Recherche Scientifique - AMU - Aix Marseille Université - EHESS - École des hautes études en sciences sociales)

Abstract

Searching for partners involves informational persistence that reduces future traders' matching probability. In this paper, traders that are no longer available but who left tracks on the market are called phantoms. I examine a discrete-time matching market in which phantom traders are a by-product of search activity, no coordination frictions are assumed, and non-phantom traders may lose time trying to match with phantom traders. The resulting aggregate matching technology features increasing returns to scale in the short run, but has constant returns to scale in the long run. I discuss the labor market evidence and argue that there is observational equivalence between phantom unemployed and on-the-job seekers.

Suggested Citation

  • Bruno Decreuse, 2010. "Matching With Phantoms," Working Papers halshs-00472751, HAL.
  • Handle: RePEc:hal:wpaper:halshs-00472751
    Note: View the original document on HAL open archive server: https://halshs.archives-ouvertes.fr/halshs-00472751
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    References listed on IDEAS

    as
    1. DREZE, Jacques & BEAN, Charles, 1990. "Europe's employment problem: Introduction and synthesis," CORE Discussion Papers 1990041, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
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    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. Matching with Phantoms
      by Christian Zimmermann in NEP-DGE blog on 2010-04-28 01:18:57

    More about this item

    Keywords

    Intertemporal and intratemporal congestion externalities; Endogenous matching technology; Information persistence;

    JEL classification:

    • J60 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - General

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