Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/46012 
Erscheinungsjahr: 
2011
Schriftenreihe/Nr.: 
IZA Discussion Papers No. 5477
Verlag: 
Institute for the Study of Labor (IZA), Bonn
Zusammenfassung: 
We analyze a general search model with on-the-job search and sorting of heterogeneous workers into heterogeneous jobs. This model yields a simple relationship between (i) the unemployment rate, (ii) the value of non-market time, and (iii) the max-mean wage differential. The latter measure of wage dispersion is more robust than measures based on the reservation wage, due to the long left tail of the wage distribution. We estimate this wage differential using data on match quality and allow for measurement error. The estimated wage dispersion and mismatch for the US is consistent with an unemployment rate of 4-6%. We find that without search frictions, output would be between 7.5% and 18.5% higher, depending on whether or not firms can ex ante commit to wage payments.
Schlagwörter: 
search
sorting
wage dispersion
on-the-job search
unemployment
JEL: 
E24
J62
J63
J64
Persistent Identifier der Erstveröffentlichung: 
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
539.5 kB





Publikationen in EconStor sind urheberrechtlich geschützt.