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来源类型Working Paper
规范类型报告
DOI10.3386/w28402
来源IDWorking Paper 28402
The Worker-Job Surplus
Ilse Lindenlaub; Fabien Postel-Vinay
发表日期2021-02-01
出版年2021
语种英语
摘要The worker-job surplus — the sum of the worker's and the employer's net values of an employment relationship — is the object that drives decisions in most matching models of the labor market. In this paper, we develop a theory-based empirical method to determine which of the observable worker and job characteristics impact the worker-job surplus in the data. To do so, we exploit the mobility choices of employed workers. Our method further indicates whether workers sort along those surplus-relevant attributes when searching for jobs. It also provides a test of the commonly used single-index assumption, according to which worker and job heterogeneity can each be summarized by scalar indices. We implement our method on US data using the Survey of Income and Program Participation and the O*NET. The results suggest that a relatively sparse model underlies the data. On the job side, a cognitive and an interpersonal skill requirement impact the surplus along with the (dis)amenity of work duration as well as the workplace size. On the worker side, we find that most of the relevant characteristics are symmetric to the selected job requirements. We reject the existence of a single-index representation of these relevant multi-dimensional worker and job attributes. We then use our results in a new approach to defining the economy's labor submarkets, highlighting a potentially important application of our methodology.
主题Macroeconomics ; Consumption and Investment ; Labor Economics ; Labor Supply and Demand
URLhttps://www.nber.org/papers/w28402
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/586076
推荐引用方式
GB/T 7714
Ilse Lindenlaub,Fabien Postel-Vinay. The Worker-Job Surplus. 2021.
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