EFFICIENCY AND LABOR MARKET DYNAMICS IN A MODEL OF LABOR SELECTION

This article characterizes efficient labor market allocations in a labor selection model. The model's crucial aspect is cross-sectional heterogeneity for new job contacts, which leads to an endogenous selection threshold for new hires. With cross-sectional dispersion calibrated to microeconomic...

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Bibliographic details
Volume:	57
Main Author:	Sanjay K. Chugh Christian Merkl
Format:	Journal Article
Language:	English
Zielgruppe:	Academic
Place of publication:	HOBOKEN Wiley Periodicals, Inc 01.11.2016 WILEY Wiley Subscription Services, Inc
published in:	International economic review (Philadelphia) Vol. 57; no. 4; pp. 1371 - 1404
Data of publication:	20161101
ISSN:	0020-6598 1468-2354
EISSN:	1468-2354
Discipline:	Economics Statistics
Bibliography:	We thank Sushant Acharya, Susanto Basu, Matteo Cacciatore, Ryan Chahrour, Timothy Fuerst, Simon Gilchrist, Veronica Guerrieri, Joseph Kaboski, Wolfgang Lechthaler, Guido Lorenzoni, Steven Lugauer, Michael Pries, Federico Ravenna, Claire Reicher, Aysegul Sahin, Nicolas Vincent, and Henning Weber for useful feedback at various stages of the project. Sanjay K. Chugh thanks the “Schöller Forschungszentrum” for financial support. Christian Merkl thanks the Fritz Thyssen foundation for financial support during his visit at the National Bureau of Economic Research, where the project was initiated, and the German Science Foundation (SPP 1764). Ana Lariau, Verena Maier, and Kilian Ruppert have provided brilliant research assistance. We received helpful comments at presentations at the Federal Reserve Board, the Federal Reserve Bank of New York, the 2011 SED Meetings, the German Economic Association, Sveriges Riksbank, the Federal Reserve Bank of Cleveland, the Ifo Macro Seminar, the Boston College Macro Lunch Workshop, the University of Notre Dame, the Kiel Institute, and HEC Montréal.
Subjects:	Productivity Steady state economies Economic models Labor productivity Job hunting Employment Labor markets Calibration Unemployment Employee efficiency Economics Business & Economics Social Sciences Labor market Statistics JOB SEARCH CYCLICAL BEHAVIOR TURNOVER COSTS INDIVISIBLE LABOR VACANCIES EQUILIBRIUM UNEMPLOYMENT EMPLOYMENT
Online Access:	Fulltext
Database:	Social Sciences Citation Index Web of Science - Social Sciences Citation Index - 2016 Web of Knowledge Web of Science Gale General OneFile (A&I only) Academic OneFile (A&I only) Database information Databases - DBIS