Worker Heterogeneity and Endogenous Separations in a Matching Model of Unemployment Fluctuations

• 成果类型: Article
• 署名作者: Bils, Mark; Chang, Yongsung; Kim, Sun-Bin
• 署名单位: University of Rochester; Yonsei University
• 刊物名称: AMERICAN ECONOMIC JOURNAL-MACROECONOMICS
• ISSN/ISSBN: 1945-7707
• DOI: 10.1257/mac.3.1.128
• 发表日期: 2011
• 页码: 128-154
• 关键词: equilibrium unemployment; cyclical behavior; insurance; duration

摘要

We model worker heterogeneity in the rents from being employed in a Diamond-Mortensen-Pissarides model of matching and unemployment. We show that heterogeneity, reflecting differences in match quality and worker assets, reduces the extent of fluctuations in separations and unemployment. We find that the model faces a trade-off it cannot produce both realistic dispersion in wage growth across workers and realistic cyclical fluctuations in unemployment. (JEL D31, E24, E32, J41, J63)