Implications of search frictions: matching aggregate and establishment-level observations
This paper studies hours, employment, vacancies and unemployment at micro and macro levels. It is built around a set of facts concerning the variability of unemployment and vacancies in the aggregate and, at the establishment level, the distribution of net employment growth and the comovement of hou...
Gespeichert in:
| Hauptverfasser: | , , |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Cambridge, Mass.
National Bureau of Economic Research
2007
|
| Schriftenreihe: | Working paper series / National Bureau of Economic Research
13115 |
| Online-Zugang: | Volltext |
| Zusammenfassung: | This paper studies hours, employment, vacancies and unemployment at micro and macro levels. It is built around a set of facts concerning the variability of unemployment and vacancies in the aggregate and, at the establishment level, the distribution of net employment growth and the comovement of hours and employment growth. A search model with frictions in hiring and firing is used as a framework to understand these observations. Notable features of this search model include non-convex costs of posting vacancies, establishment level profitability shocks and a contracting framework that determines the response of hours and wages to shocks. The search friction creates an endogenous, cyclical adjustment cost. We specify and estimate the parameters of the search model using simulated method of moments to match establishment-level and aggregate observations. The estimated search model is able to capture both the aggregate and establishment-level facts. |
| Beschreibung: | Literaturverz. S. 40 - 41 |
| Beschreibung: | 41 S. graph. Darst. 22 cm |
Internformat
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| 245 | 1 | 0 | |a Implications of search frictions |b matching aggregate and establishment-level observations |c Russell Cooper ; John Haltiwanger ; Jonathan L. Willis |
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| 490 | 1 | |a Working paper series / National Bureau of Economic Research |v 13115 | |
| 500 | |a Literaturverz. S. 40 - 41 | ||
| 520 | 8 | |a This paper studies hours, employment, vacancies and unemployment at micro and macro levels. It is built around a set of facts concerning the variability of unemployment and vacancies in the aggregate and, at the establishment level, the distribution of net employment growth and the comovement of hours and employment growth. A search model with frictions in hiring and firing is used as a framework to understand these observations. Notable features of this search model include non-convex costs of posting vacancies, establishment level profitability shocks and a contracting framework that determines the response of hours and wages to shocks. The search friction creates an endogenous, cyclical adjustment cost. We specify and estimate the parameters of the search model using simulated method of moments to match establishment-level and aggregate observations. The estimated search model is able to capture both the aggregate and establishment-level facts. | |
| 700 | 1 | |a Haltiwanger, John C. |d 1955- |e Verfasser |0 (DE-588)122941063 |4 aut | |
| 700 | 1 | |a Willis, Jonathan L. |e Verfasser |0 (DE-588)128552271 |4 aut | |
| 776 | 0 | 8 | |i Erscheint auch als |n Online-Ausgabe |
| 810 | 2 | |a National Bureau of Economic Research <Cambridge, Mass.> |t NBER working paper series |v 13115 |w (DE-604)BV002801238 |9 13115 | |
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| id | DE-604.BV023593025 |
| illustrated | Illustrated |
| index_date | 2024-07-02T22:41:31Z |
| indexdate | 2024-07-09T21:25:14Z |
| institution | BVB |
| language | English |
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| physical | 41 S. graph. Darst. 22 cm |
| publishDate | 2007 |
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| spelling | Cooper, Russell W. 1955- Verfasser (DE-588)124082564 aut Implications of search frictions matching aggregate and establishment-level observations Russell Cooper ; John Haltiwanger ; Jonathan L. Willis Cambridge, Mass. National Bureau of Economic Research 2007 41 S. graph. Darst. 22 cm txt rdacontent n rdamedia nc rdacarrier Working paper series / National Bureau of Economic Research 13115 Literaturverz. S. 40 - 41 This paper studies hours, employment, vacancies and unemployment at micro and macro levels. It is built around a set of facts concerning the variability of unemployment and vacancies in the aggregate and, at the establishment level, the distribution of net employment growth and the comovement of hours and employment growth. A search model with frictions in hiring and firing is used as a framework to understand these observations. Notable features of this search model include non-convex costs of posting vacancies, establishment level profitability shocks and a contracting framework that determines the response of hours and wages to shocks. The search friction creates an endogenous, cyclical adjustment cost. We specify and estimate the parameters of the search model using simulated method of moments to match establishment-level and aggregate observations. The estimated search model is able to capture both the aggregate and establishment-level facts. Haltiwanger, John C. 1955- Verfasser (DE-588)122941063 aut Willis, Jonathan L. Verfasser (DE-588)128552271 aut Erscheint auch als Online-Ausgabe National Bureau of Economic Research <Cambridge, Mass.> NBER working paper series 13115 (DE-604)BV002801238 13115 http://papers.nber.org/papers/w13115.pdf kostenfrei Volltext |
| spellingShingle | Cooper, Russell W. 1955- Haltiwanger, John C. 1955- Willis, Jonathan L. Implications of search frictions matching aggregate and establishment-level observations |
| title | Implications of search frictions matching aggregate and establishment-level observations |
| title_auth | Implications of search frictions matching aggregate and establishment-level observations |
| title_exact_search | Implications of search frictions matching aggregate and establishment-level observations |
| title_exact_search_txtP | Implications of search frictions matching aggregate and establishment-level observations |
| title_full | Implications of search frictions matching aggregate and establishment-level observations Russell Cooper ; John Haltiwanger ; Jonathan L. Willis |
| title_fullStr | Implications of search frictions matching aggregate and establishment-level observations Russell Cooper ; John Haltiwanger ; Jonathan L. Willis |
| title_full_unstemmed | Implications of search frictions matching aggregate and establishment-level observations Russell Cooper ; John Haltiwanger ; Jonathan L. Willis |
| title_short | Implications of search frictions |
| title_sort | implications of search frictions matching aggregate and establishment level observations |
| title_sub | matching aggregate and establishment-level observations |
| url | http://papers.nber.org/papers/w13115.pdf |
| volume_link | (DE-604)BV002801238 |
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