A model of job and worker flows

Journal of Political Economy

Volumn 115, Issue 5, 2007, Pages 770-819

  Kiyotaki, Nobuhiro ^a   Lagos, Ricardo ^b  

^a PRINCETON UNIVERSITY   (United States)

^b NEW YORK UNIVERSITY   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EMPLOYMENT; EQUILIBRIUM; INCOME; MODELING; OCCUPATION; RESOURCE ALLOCATION; UNEMPLOYMENT;

EID: 38949154110     PISSN: 00223808     EISSN: None     Source Type: Journal    
DOI: 10.1086/524203     Document Type: Article

References (40)

1. Albæk, Karsten, and Bent E. Sørensen. 1998. "Worker Flows and Job Flows in Danish Manufacturing, 1980-91." Econ. J. 108 (November): 1750-71.
2. Anderson, Patricia M., and Bruce D. Meyer. 1994. "The Extent and Consequences of Job Turnover." Brookings Papers Econ. Activity. Microeconomics, pp. 177-236.
3. Bertola, Giuseppe, and Richard Rogerson. 1997. "Institutions and Labor Real-location." European Econ. Rev. 41. (June): 1147-71.
4. Blanchard, Olivier, and Pedro Portugal. 2001. "What Hides behind an Unemployment Rate: Comparing Portuguese and U.S. Labor Markets." A.E.R 91 (March): 187-207.
5. Border, Kim C. 1985. Fixed Point Theorems with Applications to Economics and Game Theory. Cambridge: Cambridge Univ. Press.
6. Burdett, Kenneth, and Melvyn G. Coles. 1997. "Marriage and Class." Q.J.E. 112 (February) : 141-68.
7. Burdett, Kenneth, Ryoichi Imai, and Randall Wright. 2004. "Unstable Relationships." Frontiers Macroeconomics 1 (1), art. 1. http://www.bepress.com/bejm/frontiers.
8. Burdett, Kenneth, and Dale T. Mortensen. 1998. "Wage Differentials, Employer Size, and Unemployment." Internat. Econ. Rev. 39 (May): 257-73.
9. Burgess, Simon, Julia Lane, and David Stevens. 2000. "Job Flows, Worker Flows, and Churning." J. Labor Econ. 18 (July): 473-502.
10. Cox, D. R., and H. D. Miller. 1965. The Theory of Stochastic Processes. London: Chapman and Hall.
11. Davis, Steven J. 2001. "The Quality Distribution of Jobs and the Structure of Wages in Search Equilibrium." Working Paper no. 8434, NBER, Cambridge, MA.
12. Davis, Steven J., and John C. Haltiwanger. 1992. "Gross Job Creation, Gross Job Destruction, and Employment Reallocation." Q.J.E. 107 (August): 819-63.
13. _. 1998. "Measuring Gross Worker and Job Flows." In Labor Statistics Measurement Issues, edited by John C. Haltiwanger, Marilyn Manser, and Robert Topel. Chicago: Univ. Chicago Press (for NBER).
14. Davis, Steven J., John C. Haltiwanger, and Scott Schuh. 1996. Job Creation and Destruction. Cambridge, MA: MIT Press.
15. Dey, Matthew S., and Christopher J. Flinn. 2005. "An Equilibrium Model of Health Insurance Provision and Wage Determination." Econometrica 73 (March): 571-627.
16. Diamond, Peter A. 1982a. "Aggregate Demand Management in Search Equilibrium." J.P.E. 90 (October): 881-94.
17. _. 1982b. "Wage Determination and Efficiency in Search Equilibrium." Rev. Econ. Studies 49 (April): 217-27.
18. Diamond, Peter A., and Eric S. Maskin. 1979. "An Equilibrium Analysis of Search and Breach of Contract I: Steady States." Bell J. Econ. 10 (Spring): 282-316.
19. _. 1981. "Externalities and Efficiency in a Model of Stochastic Job Matching." Manuscript, Dept. Econ., Massachusetts Inst. Tech.
20. Fallick, Bruce C., and Charles A. Fleischman. 2001. "The Importance of Employer-to-Employer Flows in the U.S. Labor Market." Finance and Economics Discussion Series, no. 2001-18, Bd. Governors, Fed. Reserve System, Washington, DC.
21. Felli, Leonardo, and Kevin Roberts. 2001. "Does Competition Solve the Hold-up Problem?" STICERD Theoretical Economics Discussion Paper no. TE/01/ 414, London School Econ.
22. Hamermesh, Daniel S., Wolter H.J. Hassink, and Jan C. van Ours. 1996. "Job Turnover and Labor Turnover: A Taxonomy of Employment Dynamics." Annales d'Économie et de Statistique, nos. 41/42 (January/June): 21-40.
23. Jacobson, Louis S., Robert J. LaLonde, and Daniel G. Sullivan. 1993. "Earnings Losses of Displaced Workers." A.E.R. 83 (September): 685-709.
24. Kiyotaki, Nobuhiro, and Ricardo Lagos. 2006. "A Model of Job and Worker Flows." Staff Report no. 358, Fed. Reserve Bank Minneapolis.
25. Lazear, Edward P. 1990. "Job Security Provisions and Employment." Q.J.E. 105 (August): 699-726.
26. Ljungqvist, Lars, and Thomas J. Sargent. 1998. "The European Unemployment Dilemma." J.P.E. 106 (June): 514-50.
27. Millard, Stephen P., and Dale T. Mortensen. 1997. "The Unemployment and Welfare Effects of Labour Market Policy: A Comparison of the USA and UK." In Unemployment Policy: Government Options for the Labour Market, edited by Dennis J. Snower and Guillermo de la Dehesa. Cambridge: Cambridge Univ. Press.
28. Mortensen, Dale T. 1982. "Property Rights and Efficiency in Mating, Racing, and Related Games." A.E.R. 72 (December): 968-79.
29. Mortensen, Dale T., and Christopher A. Pissarides. 1994. "Job Creation and Destruction in the Theory of Unemployment." Rev. Econ. Studies 61 (July): 397-415.
30. _. 1999. "Unemployment Responses to 'Skill-Biased' Technology Shocks: The Role of Labour Market Policy." Econ. J. 109 (April): 242-65.
31. Pissarides, Christopher A. 1984. "Efficient Job Rejection." Econ. J. 94 (suppl.): 97-108.
32. _. 2000. Equilibrium Unemployment Theory. Cambridge, MA: MIT Press.
33. Postel-Vinay, Fabien, and Jean-Marc Robin. 2002. "Equilibrium Wage Dispersion with Worker and Employer Heterogeneity." Econometrica 70 (November): 2295-2350.
34. Pries, Michael, and Richard Rogerson. 2005. "Hiring Policies, Labor Market Institutions, and Labor Market Flows." J.P.E. 113 (August): 811-39.
35. Shimer, Robert, and Lones Smith. 2000. "Assortative Matching and Search." Econometrica 68 (March): 343-69.
36. _. 2001a. "Matching, Search, and Heterogeneity." Advances Macroeconomics 1 (1), art. 5. http://www.bepress.com/bejm/advances.
37. _. 2001b. "Nonstationary Search." Manuscript, Dept. Econ., Univ. Chicago.
38. Stokey, Nancy L., and Robert E. Lucas Jr. 1989. Recursive Methods in Economic Dynamics. With Edward C. Prescott. Cambridge, MA: Harvard Univ. Press.
39. Violante, Giovanni L. 2002. "Technological Acceleration, Skill Transferability, and the Rise in Residual Inequality." Q.J.E. 117 (February): 297-338.
40. Wolinsky, Asher. 1987. "Matching, Search, and Bargaining." J. Econ. Theory 42 (August): 311-33.