کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
956955 | 928501 | 2010 | 42 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Block recursive equilibria for stochastic models of search on the job
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
![عکس صفحه اول مقاله: Block recursive equilibria for stochastic models of search on the job Block recursive equilibria for stochastic models of search on the job](/preview/png/956955.png)
چکیده انگلیسی
We develop a general stochastic model of directed search on the job. Directed search allows us to focus on a Block Recursive Equilibrium (BRE) where agents' value functions, policy functions and market tightness do not depend on the distribution of workers over wages and unemployment. We formally prove existence of a BRE under various specifications of workers' preferences and contractual environments, including dynamic contracts and fixed-wage contracts. Solving a BRE is as easy as solving a representative agent model, in contrast to the analytical and computational difficulties in models of random search on the job.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Economic Theory - Volume 145, Issue 4, July 2010, Pages 1453-1494
Journal: Journal of Economic Theory - Volume 145, Issue 4, July 2010, Pages 1453-1494
نویسندگان
Guido Menzio, Shouyong Shi,