Petrongolo, Barbara and Pissarides, Christopher
Looking into the black box: a survey of the matching function.
Centre for Economic Policy Research, London, UK.
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We survey the microfoundations, empirical evidence and estimation issues underlying the aggregate matching function. Several microeconomic matching mechanisms have been suggested in the literature with some successes but none is generally accepted as superior to all others. Instead, an aggregate matching function with hires as a function of vacancies and unemployment has been successfully estimated for several countries. The Cobb-Douglas restrictions with constant returns to scale perform well. Recent work has utilized disaggregated data to go beyond aggregate estimates, with many refinements and suggestions for future research.
||© 2000 Barbara Petrongolo and Christopher A Pissarides
||matching function, search, mismatch, Beveridge curve, coordinaton failures, stock-flow matching, ranking, on-the-job search, space aggregation, time aggregation
|Library of Congress subject classification:
||H Social Sciences > HD Industries. Land use. Labor
|Journal of Economic Literature Classification System:
||J - Labor and Demographic Economics > J6 - Mobility, Unemployment, and Vacancies > J64 - Unemployment: Models, Duration, Incidence, and Job Search
J - Labor and Demographic Economics > J6 - Mobility, Unemployment, and Vacancies > J60 - General
J - Labor and Demographic Economics > J6 - Mobility, Unemployment, and Vacancies > J63 - Turnover; Vacancies; Layoffs
E - Macroeconomics and Monetary Economics > E2 - Consumption, Saving, Production, Employment, and Investment > E21 - Macroeconomics: Consumption; Saving; Aggregate Physical and Financial Consumer Wealth
||Collections > Economists Online
Research centres and groups > Centre for Economic Performance (CEP)
Departments > Economics
||04 Jun 2008 11:08
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