Mortensen, Dale T and Pissarides, Christopher (1993) Job creation and job destruction in the theory of unemployment. CEP discussion paper; CEPDP0110 (110). London School of Economics and Political Science. Centre for Economic Performance, London, UK.
Full text not available from this repository.Abstract
n this paper we model a job-specific shock process in the matching model of unemployment with non-cooperative wage behaviour. We obtain endogenous job creation and job destruction processes and study their properties. We show that an aggregate shock induces negative correlation between job creation and job destruction whereas a dispersion shock induces positive correlations. The job destruction process is shown to have more volatile dynamics than the job creation process. In simulations we show that an aggregate shock process proxies reasonably well the cyclical behaviour of job creation and job destruction in the United States.
| Item Type: | Monograph (Discussion Paper) |
|---|---|
| Official URL: | http://cep.lse.ac.uk |
| Additional Information: | © 1993 the authors |
| Divisions: | Centre for Economic Performance Economics |
| Subjects: | H Social Sciences > HD Industries. Land use. Labor |
| Date Deposited: | 27 Apr 2007 |
| Last Modified: | 15 Sep 2023 22:40 |
| URI: | http://eprints.lse.ac.uk/id/eprint/2016 |
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