Forskning ved Københavns Universitet - Københavns Universitet

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A Search Model with a Quasi-Network

Publikation: Working paperForskning

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    Forlagets udgivne version, 334 KB, PDF-dokument

  • Joao Miguel Ejarque
This paper adds a quasi-network to a search model of the labor market. Fitting the model to an average unemployment rate and to other moments in the data implies the presence of the network is not noticeable in the basic properties of the unemployment and job finding rates. However, the network creates downward sloping reemployment hazards which the basic model does not, and under increasing network returns these hazards are significantly convex as we see in the data. Going into more detail we find that the network gets partially destroyed in periods of high unemployment and generates less job creation per link, while at the same time the jobs it does create, it does so with fewer links.
OriginalsprogEngelsk
UdgiverDepartment of Economics, University of Copenhagen
Antal sider27
StatusUdgivet - 2010

Bibliografisk note

JEL Classification: D83, D85, E24, J21, J64

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