| 来源类型 | Discussion paper
|
| 规范类型 | 论文
|
| 来源ID | DP4797
|
| DP4797 Bank Lending and Property Prices in Hong Kong |
| Stefan Gerlach; Wensheng Peng
|
| 发表日期 | 2004-12-23
|
| 出版年 | 2004
|
| 语种 | 英语
|
| 摘要 | Assuming that job search efficiency decreases with distance to jobs, workers? location in a city depends on spatial elements such as commuting costs and land prices and on labour elements such as wages and the matching technology. In the absence of moving costs, we show that there exists a unique equilibrium in which employed and unemployed workers are perfectly segregated but move at each employment transition. We investigate the interactions between the land and the labour market equilibrium and show under which condition they are interdependent. When relocation costs become positive, a new zone appears in which both the employed and the unemployed co-exist and are not mobile. We demonstrate that the size of this area goes continuously to zero when moving costs vanish. Finally, we endogenize search effort, show that it negatively depends on distance to jobs and that long and short-term unemployed workers coexist and locate in different areas of the city. |
| 主题 | Labour Economics
|
| 关键词 | Local labour markets
Relocation costs
Search effort
Job matching
|
| URL | https://cepr.org/publications/dp4797
|
| 来源智库 | Centre for Economic Policy Research (United Kingdom)
|
| 资源类型 | 智库出版物
|
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/533709
|
推荐引用方式
GB/T 7714 |
Stefan Gerlach,Wensheng Peng. DP4797 Bank Lending and Property Prices in Hong Kong. 2004.
|
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