A model of job and worker flows
By: Nobuhiro Kiyotaki and Ricardo Lagos.
Contributors: Lagos, Ricardo A., 1969-
Series: Federal Reserve Bank of Minneapolis, Research Department staff report ;; 358; Staff report (Federal Reserve Bank of Minneapolis. Research Dept. : Online) ;; 358.
Publisher: Federal Reserve Bank of Minneapolis
Published: 2005
Place of publication: [Minneapolis, Minn.]
Language: eng
Format: Electronic resource
Subjects: Labor market -- Econometric models.
Description: "We develop a model of gross job and worker flows and use it to study how the wages, permanent incomes, and employment status of individual workers evolve over time. Our model helps explain various features of labor markets, such as the size and persistence of the changes in income that workers experience due to displacements or job-to-job transitions, the length of job tenures and unemployment duration, and the amount of worker turnover in excess of job reallocation.We also examine the effects that labor market institutions and public policy have on the gross flows, as well as on the resulting wage distribution, employment, and aggregate output in the equilibrium.From a theoretical standpoint, we study the extent to which the competitive equilibrium achieves an efficient allocation of resources"--Federal Reserve Bank of Minneapolis web site.
Notes: Also available in print.
Includes bibliographical references.
Title from PDF file as viewed on 3/16/2005.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.