Public Sector Wage Policy and Labor Market Equilibrium: A Structural Model
成果类型：
Article
署名作者：
Bradley, Jake; Postel-Vinay, Fabien; Turon, Helene
署名单位：
University of Cambridge; University of London; University College London; University of Bristol
刊物名称：
JOURNAL OF THE EUROPEAN ECONOMIC ASSOCIATION
ISSN/ISSBN：
1542-4766
DOI：
10.1093/jeea/jvw026
发表日期：
2017
页码：
1214-1257
关键词：
摘要：
We develop and estimate a structural model that incorporates a sizeable public sector in a labor market with search frictions. The wage distribution and the employment rate in the public sector are taken as exogenous policy parameters. Overall wage distribution and employment rate are determined within the model, taking into account the private sector's endogenous response to public sector employment policies. Job turnover is sector specific and transitions between sectors depend on the worker's decision to accept alternative employment in the same or different sector by comparing the value of employment in the current and prospective jobs. The model is estimated on British data by a method of moments. We use the model to simulate the impact of various counterfactual public sector wage and employment policies. (JEL: E24, J21, J68).
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