Returns to labor mobility. Layoff costs and quit turbulence

Isaac Baley, Lars Ljungqvist and Thomas Sargent

Economics Working Papers from Department of Economics and Business, Universitat Pompeu Fabra

Abstract: Returns to labor mobility have too often escaped the attention they deserve as conduits of important forces in macro-labor models. These returns are shaped by calibrations of productivity processes that use theoretical perspectives and data sources from (i) labor economics and (ii) industrial organization. By studying how equilibrium unemployment responds to (a) layoff costs, and (b) likelihoods of skill losses following quits, we tighten calibrations of macro-labor models.

Keywords: labor mobility; quits; turnover; layoff cost; turbulence; unemployment; human capital; matching model; search model; search-island model. (search for similar items in EconPapers)
JEL-codes: E24 J63 J64 (search for similar items in EconPapers)
Date: 2021-07, Revised 2023-08
New Economics Papers: this item is included in nep-dge, nep-isf, nep-lab and nep-mac
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Related works:
Working Paper: Returns to Labor Mobility: Layoff Costs and Quit Turbulence (2021)
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Persistent link: https://EconPapers.repec.org/RePEc:upf:upfgen:1798

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