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Returns to Labor Mobility

Author

Listed:
  • Isaac Baley
  • Lars Ljungqvist
  • Thomas J. Sargent

Abstract

Returns to labor mobility have too often escaped the attention they deserve as conduits of important forces in macro-labor models. These returns are shaped by calibrations of productivity processes that use theoretical perspectives and data sources from (i) labor economics and (ii) industrial organization. By studying how equilibrium unemployment responds to (a) layoff costs, and (b) likelihoods of skill losses following quits, we tighten calibrations of macro-labor models.

Suggested Citation

  • Isaac Baley & Lars Ljungqvist & Thomas J. Sargent, 2021. "Returns to Labor Mobility," Working Papers 1288, Barcelona School of Economics.
    • Handle: RePEc:bge:wpaper:1288
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    File URL: https://bse.eu/sites/default/files/working_paper_pdfs/1288_0.pdf
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    References listed on IDEAS

    as
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    labor mobility; quits; turnover; layoff cost; turbulence; unemployment; human capital; matching model; search model; search-island model;
    All these keywords.

    JEL classification:

    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • J63 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Turnover; Vacancies; Layoffs
    • J64 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Unemployment: Models, Duration, Incidence, and Job Search

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