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Imperfect Competition in the Labour Market

Manning, Alan - Centre for Economic Performance, LSE - 2010

It is increasingly recognized that labour markets are pervasively imperfectly competitive, that there are rents to the employment relationship for both worker and employer. This chapter considers why it is sensible to think of labour markets as imperfectly competitive, reviews estimates on the...

Persistent link: https://www.econbiz.de/10008542750

Labor Search and Matching in Macroeconomics

Yashiv, Eran - Centre for Economic Performance, LSE - 2007

The labor search and matching model plays a growing role in macroeconomic analysis. This paper provides a critical …

Persistent link: https://www.econbiz.de/10005510441

A Test Between Unemployment Theories Using Matching Data

Coles, Melvyn; Petrongolo, Barbara - Centre for Economic Performance, LSE - 2003

This paper tests whether aggregate matching is consistent with unemployment being mainly due to search frictions or due … to job queues. Using U.K. data and correcting for temporal aggregation bias, estimates of the random matching function … are consistent with previous work in this field, but random matching is formally rejected by the data. The data instead …

Persistent link: https://www.econbiz.de/10005016867

How Local Are Labour Markets? Evidence from a Spatial Job Search Model

Manning, Alan; Petrongolo, Barbara - Centre for Economic Performance, LSE - 2011

across space that allows us to estimate a matching process with a very large number of areas. Estimates of this model show …

Persistent link: https://www.econbiz.de/10009368959

U.S. Labor Market Dynamics Revisited

Yashiv, Eran - Centre for Economic Performance, LSE - 2007

The picture of U.S. labor market dynamics is opaque. Empirical studies have yielded contradictory findings and debates have emerged regarding their implications. This paper aims at clarifying the picture, which is important for the understanding of the operation of the labor market, for the...

Persistent link: https://www.econbiz.de/10005796121

The Shimer Puzzle and the Correct Identification of Productivity Shocks

Barnichon, Régis - Centre for Economic Performance, LSE - 2007

Shimer (2005a) claims that the Mortensen-Pissarides search model of unemployment lacks an ampiflication mechanism because it cannot generate the observed business cycle fluctuations in unemployment given labor productivity shocks of plausible magnitude. This paper argues that part of the problem...

Persistent link: https://www.econbiz.de/10005797309

Job Destruction, Job Creation and Unemployment in Transition Countries: What Can We Learn?

Faggio, Giulia - Centre for Economic Performance, LSE - 2007

Sixteen years into the transition, the problem of high joblessness has not been solved. Of the three explanations commonly discussed (i.e. ongoing reallocation; finished reallocation with redundant labour; wrong choice of institutional framework), we concentrated on the ongoing reallocation...

Persistent link: https://www.econbiz.de/10005510442

Creative Destruction with On-the-Job Search

Michau, Jean-Baptiste - Centre for Economic Performance, LSE - 2007

matching model in an economy with embodied technological progress and show that its dynamics are profoundly affected by …

Persistent link: https://www.econbiz.de/10005150991

Lags and Leads in Life Satisfaction: A Test of the Baseline Hypothesis

Clark, Andrew E.; Diener, Ed; Georgellis, Yannis; … - Centre for Economic Performance, LSE - 2007

We look for evidence of habituation in twenty waves of German panel data: do individuals, after life and labour market events, tend to return to some baseline level of well-being? Although the strongest life satisfaction effect is often at the time of the event, we find significant lag and lead...

Persistent link: https://www.econbiz.de/10005150998

The Unemployment Volatility Puzzle: Is Wage Stickiness the Answer?

Pissarides, Christopher A. - Centre for Economic Performance, LSE - 2007

I study the cyclical behavior of an equilibrium search model with endogenous job creation and destruction, with focus on the model's failure to match the observed cyclical volatility of unemployment. Job creation in the model is influenced by wages in new matches. I summarize microeconometric...

Persistent link: https://www.econbiz.de/10005151092