EUROPEAN UNEMPLOYMENT AND TURBULENCE REVISITED IN A MATCHING MODEL
成果类型：
Article
署名作者：
Ljungqvist, Lars; Sargent, Thomas J.
署名单位：
Stockholm School of Economics; Centre for Economic Policy Research - UK; New York University
刊物名称：
JOURNAL OF THE EUROPEAN ECONOMIC ASSOCIATION
ISSN/ISSBN：
1542-4766
DOI：
10.1162/154247604323068140
发表日期：
2004
页码：
456-468
关键词：
摘要：
We recalibrate den Haan, Haefke, and Ramey's matching model to incorporate our preferred specification of turbulence as causing distinct dynamics of human capital after voluntary and involuntary job losses. Under our calibration, with high unemployment benefits, an increase in turbulence increases the unemployment rate and the duration of unemployment while leaving the inflow rate into unemployment roughly unchanged, mirroring features of European data in the 1980s and 1990s. The essential issue is that den Haan, Haefke, and Ramey specify that in turbulent times workers experiencing layoffs and quits are both subject to instantaneous skill losses, while we restrict instantaneous skill losses to laid-off workers. (JEL: E24, J64)
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