| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP14246 |
| DP14246 Firm and Worker Dynamics in a Frictional Labor Market | |
| Niklas Engbom; Simon Mongey; Giovanni L. Violante | |
| 发表日期 | 2019-12-24 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | This paper develops a random-matching model of a frictional labor market with firm and worker dynamics. Multi-worker firms choose whether to shrink or expand their employment in response to shocks to their decreasing returns to scale technology. Growing entails posting costly vacancies, which are filled either by the unemployed or by employees poached from other firms. Firms also choose when to enter and exit the market. Tractability is obtained by proving that, under a parsimonious set of assumptions, all workers’ and firm decisions are characterized by their joint marginal surplus, which in turn only depends on the firm’s productivity and size. As frictions vanish, the model converges to a standard competitive model of firm dynamics which allows a quantification of the misallocation cost of labor market frictions. An estimated version of the model yields cross-sectional patterns of net poaching by firm characteristics (e.g., age and size) that are in line with the micro data. The model also generates a drop in job-to-job transitions as firm entry declines, offering an interpretation to U.S. labor market dynamics around the Great Recession. All these outcomes are a reflection of the job ladder in marginal surplus that emerges in equilibrium. |
| 主题 | Labour Economics ; Monetary Economics and Fluctuations |
| 关键词 | Decreasing returns to scale Firm dynamics frictions Job turnover Marginal surplus Net poaching On the job search Unemployment Vacancies Worker flows |
| URL | https://cepr.org/publications/dp14246 |
| 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/543132 |
| 推荐引用方式 GB/T 7714 | Niklas Engbom,Simon Mongey,Giovanni L. Violante. DP14246 Firm and Worker Dynamics in a Frictional Labor Market. 2019. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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