Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/89499
Authors: 
Gabriele, Roberto
Year of Publication: 
2002
Series/Report no.: 
LEM Working Paper Series 2002/07
Abstract: 
We analyse labor market dynamics with an agent based model, which replicates a set of stylized facts in the labor market as well as aggregate regularities. We are able to reproduce the Beveridge curve, job creation and destruction flows, a persistent unemployment level, and wages stickiness. On the aggregate level, we observe a self-enforcing process of real income growth and average productivity growth. Model simulations allow us study the role of dynamic interactions among agents -individuals and firms- in a changing environment shaped by institutions. The key features are the microfoundations of the processes governing the labor market, such as job search by individuals, and matching and bargaining among firms and potential employees.
Subjects: 
unemployment
Beveridge curve
matching
job creation flows
job destruction flows
technical change
JEL: 
J63
J64
O12
J41
Document Type: 
Working Paper

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