Worker search effort as an amplification mechanism

Autor:	Paul Gomme, Damba Lkhagvasuren
Rok vydání:	2015
Předmět:	Economics and Econometrics Labour economics Current Population Survey media_common.quotation_subject Economic rent Unemployment Economics American Time Use Survey Beveridge curve Finance media_common
Zdroj:	Journal of Monetary Economics. 75:106-122
ISSN:	0304-3932
DOI:	10.1016/j.jmoneco.2015.02.002
Popis:	It is well known that the Diamond–Mortensen–Pissarides model exhibits a strong trade-off between cyclical unemployment fluctuations and the size of rents to employment. Introducing endogenous job search effort reduces the strength of the trade-off while bringing the model closer to the data. Ignoring worker search effort leads to a large upward bias in the elasticity of matches with respect to vacancies. Merging the American Time Use Survey and the Current Population Survey, new evidence in support of procyclical search effort is presented. Average search effort of the unemployed is subject to cyclical composition biases.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::af962e2ae8be91176910d997fbb7ad44 https://doi.org/10.1016/j.jmoneco.2015.02.002 Zobrazit plný text záznamu Full Text from ScienceDirect