On-the-job search and the cyclical dynamics of the labor market:
We show how on-the-job search and the propagation of shocks to the economy are intricately linked. Rising search by employed workers in a boom amplifies the incentives of firms to post vacancies. In turn, more vacancies induce more on-the-job search. By keeping job creation costs low for firms, on-t...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Frankfurt am Main
Deutsche Bundesbank
2007
|
| Schriftenreihe: | Discussion paper
Series 1, Economic studies ; 2007,15 |
| Zusammenfassung: | We show how on-the-job search and the propagation of shocks to the economy are intricately linked. Rising search by employed workers in a boom amplifies the incentives of firms to post vacancies. In turn, more vacancies induce more on-the-job search. By keeping job creation costs low for firms, on-the-job search greatly amplifies shocks. In our baseline calibration, this allows the model to generate fluctuations of unemployment, vacancies, and labor productivity whose magnitudes are close to the data, and leads output to be highly autocorrelated. |
| Beschreibung: | 49 S. graph. Darst. |
| ISBN: | 9783865583079 |
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| 100 | 1 | |a Krause, Michael |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a On-the-job search and the cyclical dynamics of the labor market |c Michael Krause, Thomas Lubik |
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| 490 | 1 | |a Discussion paper : Series 1, Economic studies |v 2007,15 | |
| 520 | |a We show how on-the-job search and the propagation of shocks to the economy are intricately linked. Rising search by employed workers in a boom amplifies the incentives of firms to post vacancies. In turn, more vacancies induce more on-the-job search. By keeping job creation costs low for firms, on-the-job search greatly amplifies shocks. In our baseline calibration, this allows the model to generate fluctuations of unemployment, vacancies, and labor productivity whose magnitudes are close to the data, and leads output to be highly autocorrelated. | ||
| 700 | 1 | |a Lubik, Thomas A. |e Sonstige |0 (DE-588)132793822 |4 oth | |
| 830 | 0 | |a Discussion paper |v Series 1, Economic studies ; 2007,15 |w (DE-604)BV017594637 |9 2007,15 | |
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| id | DE-604.BV022552768 |
| illustrated | Illustrated |
| index_date | 2024-07-02T18:14:08Z |
| indexdate | 2024-07-09T21:00:06Z |
| institution | BVB |
| isbn | 9783865583079 |
| language | English |
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| physical | 49 S. graph. Darst. |
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| series | Discussion paper |
| series2 | Discussion paper : Series 1, Economic studies |
| spelling | Krause, Michael Verfasser aut On-the-job search and the cyclical dynamics of the labor market Michael Krause, Thomas Lubik Frankfurt am Main Deutsche Bundesbank 2007 49 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Discussion paper : Series 1, Economic studies 2007,15 We show how on-the-job search and the propagation of shocks to the economy are intricately linked. Rising search by employed workers in a boom amplifies the incentives of firms to post vacancies. In turn, more vacancies induce more on-the-job search. By keeping job creation costs low for firms, on-the-job search greatly amplifies shocks. In our baseline calibration, this allows the model to generate fluctuations of unemployment, vacancies, and labor productivity whose magnitudes are close to the data, and leads output to be highly autocorrelated. Lubik, Thomas A. Sonstige (DE-588)132793822 oth Discussion paper Series 1, Economic studies ; 2007,15 (DE-604)BV017594637 2007,15 |
| spellingShingle | Krause, Michael On-the-job search and the cyclical dynamics of the labor market Discussion paper |
| title | On-the-job search and the cyclical dynamics of the labor market |
| title_auth | On-the-job search and the cyclical dynamics of the labor market |
| title_exact_search | On-the-job search and the cyclical dynamics of the labor market |
| title_exact_search_txtP | On-the-job search and the cyclical dynamics of the labor market |
| title_full | On-the-job search and the cyclical dynamics of the labor market Michael Krause, Thomas Lubik |
| title_fullStr | On-the-job search and the cyclical dynamics of the labor market Michael Krause, Thomas Lubik |
| title_full_unstemmed | On-the-job search and the cyclical dynamics of the labor market Michael Krause, Thomas Lubik |
| title_short | On-the-job search and the cyclical dynamics of the labor market |
| title_sort | on the job search and the cyclical dynamics of the labor market |
| volume_link | (DE-604)BV017594637 |
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