Coles, Melvyn G and Mortensen, Dale T (2015) The response of employment and wages to aggregate shocks: On-the-job search effect. Research in Economics, 69 (1). pp. 7-17. DOI https://doi.org/10.1016/j.rie.2013.10.005
Coles, Melvyn G and Mortensen, Dale T (2015) The response of employment and wages to aggregate shocks: On-the-job search effect. Research in Economics, 69 (1). pp. 7-17. DOI https://doi.org/10.1016/j.rie.2013.10.005
Coles, Melvyn G and Mortensen, Dale T (2015) The response of employment and wages to aggregate shocks: On-the-job search effect. Research in Economics, 69 (1). pp. 7-17. DOI https://doi.org/10.1016/j.rie.2013.10.005
Abstract
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 |
|---|---|
| Uncontrolled Keywords: | Labor-market search; Worker flow; Employment and wage volatility; Job-finding rate; Productivity shocks; Wage rigidity |
| Subjects: | H Social Sciences > HB Economic Theory |
| Divisions: | Faculty of Social Sciences Faculty of Social Sciences > Economics, Department of |
| SWORD Depositor: | Unnamed user with email elements@essex.ac.uk |
| Depositing User: | Unnamed user with email elements@essex.ac.uk |
| Date Deposited: | 14 Apr 2015 10:40 |
| Last Modified: | 30 Oct 2024 21:21 |
| URI: | http://repository.essex.ac.uk/id/eprint/13521 |