| 来源类型 | Discussion paper
|
| 规范类型 | 论文
|
| 来源ID | DP5852
|
| DP5852 The International Financial Integration of China and India |
| Philip Lane; Sergio Schmukler
|
| 发表日期 | 2006-09-23
|
| 出版年 | 2006
|
| 语种 | 英语
|
| 摘要 | This paper proposes a matching model that distinguishes between job creation by existing firms and job creation by firm entrants. The paper argues that vacancy posting and job destruction on the extensive margin, i.e. from firms that enter and exit the labour market, represents a viable mechanism for understanding the cyclical properties of vacancies and unemployment. The model features both hiring freeze and bankruptcies, where the former represents a sudden shut down of vacancy posting at the firm level with labour downsizing governed by natural turnover. A bankrupt firm, conversely, shut down its vacancies and lay offs its stock of workers. Recent research in macroeconomics has shown that a calibration of the Mortensen and Pissarides matching model account for 10 percent of the cyclical variability of the vacancy unemployment ratio displayed by U.S. data. A calibration of the model that explicitly considers hiring freeze and bankruptcy can account for 20 to 35 percent of the variability displayed by the data. |
| 主题 | Labour Economics
|
| 关键词 | Unemployment dynamics
Matching models
|
| URL | https://cepr.org/publications/dp5852
|
| 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/534690
|
推荐引用方式
GB/T 7714 |
Philip Lane,Sergio Schmukler. DP5852 The International Financial Integration of China and India. 2006.
|
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
