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An empirical equilibrium search model of the labour market

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  • Berg, G.J.

    (Vrije Universiteit Amsterdam, Faculteit der Economische Wetenschappen en Econometrie (Free University Amsterdam, Faculty of Economics Sciences, Business Administration and Economitrics)

  • Ridder, G.

Abstract

The authors investigate whether an equilibrium search model, in which the wage offer distribution is endogenous, is able to describe observed labor market histories. They find that the distributions of job and unemployment spells are consistent with the data, and qualitative predictions of the model for the wages set by employers are confirmed. The authors distinguish between separate segments of the labor market, and they show that productivity heterogeneity is important to obtain an acceptable fit to the data. The results are used to estimate the firms' monopsony power. The effects of changes in the mandatory minimum wage are examined.
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Suggested Citation

  • Berg, G.J. & Ridder, G., 1993. "An empirical equilibrium search model of the labour market," Serie Research Memoranda 0039, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
  • Handle: RePEc:vua:wpaper:1993-39
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    References listed on IDEAS

    as
    1. Jackman, Richard & Layard, Richard, 1991. "Does Long-term Unemployment Reduce a Person's Chance of a Job? A Time-Series Test," Economica, London School of Economics and Political Science, vol. 58(229), pages 93-106, February.
    2. Vishwanath, Tara, 1989. "Job Search, Stigma Effect, and Escape Rate from Unemployment," Journal of Labor Economics, University of Chicago Press, vol. 7(4), pages 487-502, October.
    3. van den Berg, Gerard J & van Ours, Jan C, 1996. "Unemployment Dynamics and Duration Dependence," Journal of Labor Economics, University of Chicago Press, vol. 14(1), pages 100-125, January.
    4. Haskel, Jonathan & Jackman, Richard, 1988. "Long-term Unemployment in Britain and the Effects of the Community Programme," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 50(4), pages 379-408, November.
    5. Devine, Theresa J. & Kiefer, Nicolas M., 1991. "Empirical Labor Economics: The Search Approach," OUP Catalogue, Oxford University Press, number 9780195059366.
    6. Kooreman, Peter & Ridder, Geert, 1983. "The effects of age and unemployment percentage on the duration of unemployment: Evidence from aggregate data," European Economic Review, Elsevier, vol. 20(1-3), pages 41-57, January.
    7. Lancaster, Tony, 1979. "Econometric Methods for the Duration of Unemployment," Econometrica, Econometric Society, vol. 47(4), pages 939-956, July.
    8. Narendranathan, W & Nickell, S & Stern, J, 1985. "Unemployment Benefits Revisited," Economic Journal, Royal Economic Society, vol. 95(378), pages 307-329, June.
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