The Library
Search, shirking and labor market volatility
Tools
Martin, Chris and Wang, Bingsong (2020) Search, shirking and labor market volatility. Journal of Macroeconomics, 66 . 103243. doi:10.1016/j.jmacro.2020.103243 ISSN 0164-0704.
|
PDF
WRAP-Search-shirking-Labor-market-volatility-Wang-2020.pdf - Accepted Version - Requires a PDF viewer. Available under License Creative Commons Attribution Non-commercial No Derivatives 4.0. Download (1034Kb) | Preview |
Official URL: https://doi.org/10.1016/j.jmacro.2020.103243
Abstract
This paper proposes a modified version of the standard search and matching model of the labour market that includes a shirking mechanism. We show that our model delivers a close match to the simulated volatilities, correlations and autocorrelations of unemployment, vacancies, labour market tightness and the job finding rate with values observed in US data. In doing so, it outperforms prominent alternative models. Our model also has novel policy implications for the impact of income taxes, subsidies on hiring and employment taxes on unemployment and its volatility.
Item Type: | Journal Article | ||||||||
---|---|---|---|---|---|---|---|---|---|
Subjects: | H Social Sciences > HB Economic Theory | ||||||||
Divisions: | Faculty of Social Sciences > Economics | ||||||||
Library of Congress Subject Headings (LCSH): | Labor market -- Econometric models, Unemployment -- Econometric models, Business cycles -- Econometric models, Labor supply | ||||||||
Journal or Publication Title: | Journal of Macroeconomics | ||||||||
Publisher: | Elsevier BV * North-Holland | ||||||||
ISSN: | 0164-0704 | ||||||||
Official Date: | December 2020 | ||||||||
Dates: |
|
||||||||
Volume: | 66 | ||||||||
Article Number: | 103243 | ||||||||
DOI: | 10.1016/j.jmacro.2020.103243 | ||||||||
Status: | Peer Reviewed | ||||||||
Publication Status: | Published | ||||||||
Access rights to Published version: | Restricted or Subscription Access | ||||||||
Date of first compliant deposit: | 4 September 2020 | ||||||||
Date of first compliant Open Access: | 29 August 2021 | ||||||||
Related URLs: |
Request changes or add full text files to a record
Repository staff actions (login required)
View Item |
Downloads
Downloads per month over past year