Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
967375 | Journal of Monetary Economics | 2007 | 23 Pages |
Abstract
We estimate a search model to match hours, employment, vacancies and unemployment at the micro- and macrolevels. We establish a set of facts concerning the variability of unemployment and vacancies in the aggregate and the distribution of net employment growth and the comovement of hours and employment growth at the establishment level. A search model with non-convex costs of posting vacancies, establishment-level profitability shocks and a contracting framework to set hours provides a structure to understand these observations. The estimated model is able to capture both the aggregate and establishment-level facts.
Keywords
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Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Russell Cooper, John Haltiwanger, Jonathan L. Willis,