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The Effects of Firm Optimizing Behaviour in Matching Models

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  • Steven Stern

Abstract

This paper considers a matching model of which the search behaviour of Jovanovic (1979) and Albrecht and Jovanovic (1984) are special cases. The nature of the generality is that each unemployed worker has more information than firms about his average productivity. This results in wage offers falling over the length of an unemployment spell because a long spell is a signal of lower than average productivity. The results of the paper are similar to the scarring effect of Heckman and Borjas (1980) and Greenwald (1986) and the discouraged worker effect of Schweitzer and Smith (1974).

Suggested Citation

  • Steven Stern, 1990. "The Effects of Firm Optimizing Behaviour in Matching Models," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 57(4), pages 647-660.
    • Handle: RePEc:oup:restud:v:57:y:1990:i:4:p:647-660.
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    File URL: http://hdl.handle.net/10.2307/2298090
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    Cited by:

    1. Temel, Tugrul, 2011. "The formation of offer prices in farmland markets: A hedonic price approach," MPRA Paper 31921, University Library of Munich, Germany.
    2. Simon D Woodcock, 2002. "Modeling Labor Markets with Heterogeneous Agents and Matches," Longitudinal Employer-Household Dynamics Technical Papers 2002-19, Center for Economic Studies, U.S. Census Bureau.
    3. Arnab Bhattacharjee & Jean Bonnet & Nicolas Le Pape & Régis Renault, 2005. "Inferring the Unobserved Human Capital of Entrepreneurs," Post-Print halshs-00337435, HAL.
    4. Simon D Woodcock, 2002. "Agent Heterogeneity and Learning: An Application to Labor Markets," Longitudinal Employer-Household Dynamics Technical Papers 2002-20, Center for Economic Studies, U.S. Census Bureau.
    5. Woodcock Simon D, 2010. "Heterogeneity and Learning in Labor Markets," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 10(1), pages 1-69, September.

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