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dc.contributor.authorYashiv, Eranen_US
dc.date.accessioned2006-05-23en_US
dc.date.accessioned2010-07-07T09:07:32Z-
dc.date.available2010-07-07T09:07:32Z-
dc.date.issued2006en_US
dc.identifier.urihttp://hdl.handle.net/10419/33163-
dc.description.abstractDoes the search and matching model fit aggregate U.S. labor market data? While the model has become an important tool of macroeconomic analysis, recent literature pointed to some significant failures in accounting for the data. This paper aims to answer two questions: (i) Does the model fit the data, and, if so, on what dimensions? (ii) Does the data fit the model, i.e. what are the data which are relevant to be explained by the model? The analysis shows that the model fits certain specifications of the data on many dimensions, though not on all. This includes capturing the high persistence and high volatility of most of the key variables, the negative co-variation of unemployment and vacancies, and the behavior of the worker job finding rate. A key role in this fit is played by the convexity of hiring costs and the stochastic properties of the separation rate. The latter is a major component of the rate discounting the future value of the job-worker match. The paper offers a workable, empirically-grounded version of the model for the analysis of aggregate U.S. labor market dynamics.en_US
dc.language.isoengen_US
dc.publisherIZA Bonnen_US
dc.relation.ispartofseriesIZA Discussion Papers 1931en_US
dc.subject.jelE24en_US
dc.subject.jelE32en_US
dc.subject.jelJ32en_US
dc.subject.jelJ63en_US
dc.subject.ddc330en_US
dc.subject.keywordsearchen_US
dc.subject.keywordmatchingen_US
dc.subject.keywordU.S. labor marketen_US
dc.subject.keywordvacanciesen_US
dc.subject.keywordlabor market flowsen_US
dc.subject.keywordbusiness cyclesen_US
dc.subject.stwArbeitsplatzsuchmodellen_US
dc.subject.stwArbeitsmarkten_US
dc.subject.stwUSAen_US
dc.titleEvaluating the performance of the search and matching modelen_US
dc.typeWorking Paperen_US
dc.identifier.ppn51221199Xen_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)

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