Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/91516
Authors: 
Lise, Jeremy
Robin, Jean-Marc
Year of Publication: 
2013
Series/Report no.: 
IFS Working Papers W13/22
Abstract: 
We develop an equilibrium model of on-the-job search with ex-ante heterogeneous workers and firms, aggregate uncertainty and vacancy creation. The model produces rich dynamics in which the distributions of unemployed workers, vacancies and worker-firm matches evolve stochastically over time. We prove that the surplus function, which fully characterises the match value and the mobility decision of workers, does not depend on these distributions. We estimate the model on US labour market data from 1951-2007 and predict the fit for 2008-12. We use the model to measure the cyclicality of mismatch between workers and jobs.
Subjects: 
On-the-job search
heterogeneity
aggregate fluctuations
mis-match
JEL: 
E24
E32
J63
J64
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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