M Kudlyak - Journal of Economic Perspectives, 2024 - pubs.aeaweb.org
In employment relationships, a wage is an installment payment on an implicit long-term agreement between a worker and a firm. The price of labor that impacts firm's hiring …
We propose a theory of unemployment fluctuations in which new hires and incumbent workers are imperfect substitutes. Hence, attempts to hire away the unemployed during …
H Miyamoto - Japan and the World Economy, 2011 - Elsevier
This paper studies whether the Mortensen and Pissarides (MP) search and matching model can explain the observed labor market fluctuations in Japan. To do this, this study first …
We examine the impact of real oil price shocks on labor market flows in the US We first use smooth transition regression (STAR) models to investigate to what extent oil prices can be …
R Faccini, E Yashiv - Quantitative Economics, 2022 - Wiley Online Library
Hiring is a costly activity reflecting firms' investment in their workers. Microdata show that hiring costs involve production disruption. Thus, cyclical fluctuations in the value of output …
MA Çenesiz, L Guimarães - Oxford Economic Papers, 2022 - academic.oup.com
The canonical matching model is the workhorse model of the labour market but lacks a proper amplification mechanism for productivity shocks. One way to amplify the effects of …
Fixed search costs, that is, costs that do not vary with search duration, can amplify the cyclical volatility of the labor market. To assess the size of fixed costs, we analyze the …
A Justiniano, C Michelacci - NBER International Seminar on …, 2012 - journals.uchicago.edu
There is much debate on whether the standard labor market search model can replicate the cyclical properties of the labor market. In an influential paper Shimer (2005a) has argued …
V Ortego-Marti - Macroeconomic Dynamics, 2017 - cambridge.org
This paper studies the cyclical fluctuations in unemployment and vacancies in a search and matching model in which workers lose skills during periods of unemployment. Firms' profits …