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A structural model for US aggregate job flows

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Author Info
Collard, Fabrice
Fève, Patrick
Langot, François
Perraudin, Corinne

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Abstract

Recent studies have highlighted the existence of asymmetries in employment dynamics. This paper contributes to the analysis of this dynamics through the explicit modelling of its two components -job creations and job destructions. We propose a simple matching model extended for endogenous separation and tractable heterogeneity. The parameters of the model are estimated using a simulation-based estimation method. We then test the ability of trade externalities, generated by the matching process, to (i) propagate sectoral shocks in the whole labor market and (ii) generate the observed asymmetries in aggregate job flows. The results clearly indicate that the model is able to match the observed asymmetries in US aggregate job flows.

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Publisher Info
Paper provided by CEPREMAP in its series CEPREMAP Working Papers (Couverture Orange) with number 9910.

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Length: 28 pages
Date of creation: 1999
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Handle: RePEc:cpm:cepmap:9910

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Find related papers by JEL classification:
C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
E24 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution
E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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    Other versions:
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Thomas B. King, 2005. "Labor productivity and job-market flows: trends, cycles, and correlations," Supervisory Policy Analysis Working Papers 2005-04, Federal Reserve Bank of St. Louis. [Downloadable!]
  2. Xavier Fairise & Patrick Fève, 2002. "Asymmetric Adjustment Costs and Aggregate Job Flows: Specification, Estimation and Testing with French Data," Economics Bulletin, Economics Bulletin, vol. 3(11), pages 1-13. [Downloadable!]
  3. Philipp Schmidt-Dengler, 2003. "A structural model of aggregate US job flows: another look," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 18(1), pages 113-118. [Downloadable!]
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