A Search Model with a Quasi-Network
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A Search Model with a Quasi-Network. / Ejarque, Joao Miguel.
Department of Economics, University of Copenhagen, 2010.Research output: Working paper › Research
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TY - UNPB
T1 - A Search Model with a Quasi-Network
AU - Ejarque, Joao Miguel
N1 - JEL Classification: D83, D85, E24, J21, J64
PY - 2010
Y1 - 2010
N2 - 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.
AB - 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.
KW - Faculty of Social Sciences
KW - netværk
KW - duration
KW - networks
KW - unemployment
M3 - Working paper
BT - A Search Model with a Quasi-Network
PB - Department of Economics, University of Copenhagen
ER -
ID: 22386847