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The response of employment and wages to aggregate shocks: On-the-job search effect

Coles, MG and Mortensen, DT (2015) 'The response of employment and wages to aggregate shocks: On-the-job search effect.' Research in Economics, 69 (1). 7 - 17. ISSN 1090-9443

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Abstract

© 2013 University of Venice. The purpose of the paper is to study and quantify the possible importance of on-the-job for the fluctuations in the job finding rate within an alternative market equilibrium framework to that of the Diamond-Mortensen-Pissarides model recently introduced by Coles and Mortensen (2013). In the process we show that the Coles-Mortensen model can easily explain the magnitudes of worker flow fluctuation reported by Shimer (2005) for the 50 year post WWII period in the U.S. as well as the observed real wage rigidity.

Item Type: Article
Subjects: H Social Sciences > HB Economic Theory
Divisions: Faculty of Social Sciences > Economics, Department of
Depositing User: Jim Jamieson
Date Deposited: 14 Apr 2015 10:40
Last Modified: 22 Jan 2019 20:15
URI: http://repository.essex.ac.uk/id/eprint/13521

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