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Asymmetric Adjustment Costs and Aggregate Job Flows: Specification, Estimation and Testing with French Data

Author

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  • Xavier Fairise

    (GAINS - Groupe d'Analyse des Itinéraires et des Niveaux Salariaux - UM - Le Mans Université)

  • Patrick Feve

    (TSE-R - Toulouse School of Economics - UT Capitole - Université Toulouse Capitole - UT - Université de Toulouse - EHESS - École des hautes études en sciences sociales - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement)

Abstract

This paper aims to study whether a simple asymmetric adjustment costs model with tractable heterogeneity can account for the observed distribution of French aggregate job flows. Each firm chooses endogenously its level of hiring or firing depending on the level of a specific technology shock. These policy rules allows, via aggregation, to account for dynamics in aggregate job flows. The deep parameters of the model are then estimated using the Simulated Method of Moments. We then show that the model is able to match some key features of the French aggregate job flows, but the results appears sensitive to the level of heterogeneity. The data were kindly provided by the F. Karamé (DARES). We thank F.

Suggested Citation

  • Xavier Fairise & Patrick Feve, 2002. "Asymmetric Adjustment Costs and Aggregate Job Flows: Specification, Estimation and Testing with French Data," Post-Print hal-04329816, HAL.
    • Handle: RePEc:hal:journl:hal-04329816
    Note: View the original document on HAL open archive server: https://hal.science/hal-04329816
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    JEL classification:

    • C5 - Mathematical and Quantitative Methods - - Econometric Modeling

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