The Macrodynamics of Sorting between Workers and Firms

• 成果类型: Article
• 署名作者: Lise, Jeremy; Robin, Jean-Marc
• 署名单位: University of Minnesota System; University of Minnesota Twin Cities; University of London; University College London
• 刊物名称: AMERICAN ECONOMIC REVIEW
• ISSN/ISSBN: 0002-8282
• DOI: 10.1257/aer.20131118
• 发表日期: 2017
• 页码: 1104-1135
• 关键词: FRICTIONAL LABOR-MARKET; equilibrium unemployment; wage distributions; cyclical behavior; directed search; job search; VACANCIES; DYNAMICS; Heterogeneity; fluctuations

摘要

We develop an equilibrium model of on-the-job search with ex ante heterogeneous workers and firms, aggregate uncertainty, and vacancy creation. The model produces rich dynamics in which the distributions of unemployed workers, vacancies, and worker-firm matches evolve stochastically over time. We prove that the surplus function, which fully characterizes the match value and the mobility decision of workers, does not depend on these distributions. This result means the model is tractable and can be estimated. We illustrate the quantitative implications of the model by fitting to US aggregate labor market data from 1951-2012. The model has rich implications for the cyclical dynamics of the distribution of skills of the unemployed, the distribution of types of vacancies posted, and sorting between heterogeneous workers and firms.