Structural and Frictional Unemployment in an Equilibrium Search Model with Heterogeneous Agents
Pierre Koning (),
Geert Ridder () and
Gerard van den Berg
Journal of Applied Econometrics, 1995, vol. 10, issue S, S133-51
We specify and estimate an equilibrium search model with between-market heterogeneity in the productivity levels. The model allows for two types of unemployment: unemployment due to search frictions and unemployment due to wage floors. Wage floors may exist, because of large unemployment benefits or a binding (mandatory) minimum wage. Using data on labor market histories for a sample of Dutch workers, we decompose the total unemployment rate in a structural and frictional unemployment rate. We also discuss the effect of changes in the minimum wage. Copyright 1995 by John Wiley & Sons, Ltd.
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