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来源类型Working Paper
规范类型报告
DOI10.3386/w13115
来源IDWorking Paper 13115
Implications of Search Frictions: Matching Aggregate and Establishment-level Observations
Russell Cooper; John Haltiwanger; Jonathan L. Willis
发表日期2007-05-24
出版年2007
语种英语
摘要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.
主题Macroeconomics ; Consumption and Investment ; Labor Economics ; Unemployment and Immigration
URLhttps://www.nber.org/papers/w13115
来源智库National Bureau of Economic Research (United States)
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资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/570783
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Russell Cooper,John Haltiwanger,Jonathan L. Willis. Implications of Search Frictions: Matching Aggregate and Establishment-level Observations. 2007.
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