A job ladder model with stochastic employment opportunities

• 成果类型: Article
• 署名作者: Bradley, Jake; Gottfries, Axel
• 署名单位: University of Nottingham; IZA Institute Labor Economics; University of Edinburgh
• 刊物名称: QUANTITATIVE ECONOMICS
• ISSN/ISSBN: 1759-7323
• DOI: 10.3982/QE1394
• 发表日期: 2021
• 页码: 1399-1430
• 关键词: On-the-job search; wage dispersion; wage posting; stock-flow; J31; J64

摘要

We set up a model with on-the-job search in which firms infrequently post vacancies for which workers occasionally apply. The model nests the standard job ladder and stock-flow models as special cases, while remaining analytically tractable and easy to estimate from standard panel data sets. The parameters from a structurally estimated model on US data are significantly different from either the restrictions imposed by a stock-flow or job ladder model. Imposing these restrictions significantly understates the search option associated with employment and are, unlike our model, inconsistent with recent survey evidence and declining job finding rates and starting wage with duration of unemployment, both of which are present in the data.