ESTIMATING THE STOCK-FLOW MATCHING MODEL USING MICRO DATA

• 成果类型: Article
• 署名作者: Andrews, Martyn J.; Bradley, Steve; Stott, Dave; Upward, Richard
• 署名单位: University of Manchester; Lancaster University; University of Nottingham
• 刊物名称: JOURNAL OF THE EUROPEAN ECONOMIC ASSOCIATION
• ISSN/ISSBN: 1542-4766
• DOI: 10.1111/jeea.12027
• 发表日期: 2013
• 页码: 1153-1177
• 关键词: search; unemployment; MARKET; equilibrium; VACANCIES

摘要

Abstract We estimate the stock-flow matching model using micro-level data from a well-defined labor market. Using a dataset of complete labor-market histories for both sides of the market, we estimate hazard functions for job-seekers and vacancies. We find that the stock of new vacancies has a significant positive impact on the job-seeker hazard, over and above that of the total stock of vacancies. There is an even stronger robust result for vacancy hazards. Thus we find evidence in favor of stock-flow matching, even when controlling for unobserved search heterogeneity and stratifying into submarkets defined by location and occupation.