Research Repository

Search Capital

Carrillo-Tudela, C and Smith, E (2012) Search Capital. UNSPECIFIED. CESifo Group Munich, CESifo Working Paper Series, 3741.

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We construct a simple equilibrium search model in which workers accumulate information about previously met employment contacts. We term the latter search capital. Here search capital (partially) insures workers against adverse shocks. The model provides a theory of job-to-job transitions that are associated with voluntary or involuntary mobility and with wage rises or wage cuts. It also shows why low wage and younger workers are associated with a higher probability of becoming unemployed.

Item Type: Monograph (UNSPECIFIED)
Uncontrolled Keywords: search capital; turnover; wage cuts
Subjects: H Social Sciences > HB Economic Theory
Divisions: Faculty of Social Sciences > Economics, Department of
Depositing User: Jim Jamieson
Date Deposited: 03 Jul 2012 11:06
Last Modified: 17 Aug 2017 18:12

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