EconPapers    
Economics at your fingertips  
 

Specification and Estimation of Equilibrium Search Models

H. Bunzel, Bent Jesper Christensen (), Peter Jensen (), Nicholas Kiefer (), L. Korsholm, L. Muus, G. R. Neumann and Michael Rosholm ()
Additional contact information
H. Bunzel: CLS and University of Aarhus
L. Korsholm: CLS and University of Aarhus
L. Muus: CLS and University of Aarhus
G. R. Neumann: CLS and University of Iowa

Review of Economic Dynamics, 2001, vol. 4, issue 1, 90-126

Abstract: This paper considers estimation of a pure equilibrium search model in which all heterogeneity is endogenous and due to information asymmetries, and of variations that allow better fits to the data. Measurement error and heterogeneity in the productivity levels of firms. The model is fit to a random sample of individuals representing 1% of the Danish population in the age group 16-75 years over the period 1981-90. All specifications are fit by maximum likelihood and provide readily interpretable parameter estimates. Variation in estimates across demographic groups is discussed. Several parameters are common across specifications, and their estimates are reasonably robust. (Copyright: Elsevier)

Keywords: dynamic programming; likelihood; local cuts; Nash equilibrium; job search; panel data; wage dispersion; wage policy; unemployment (search for similar items in EconPapers)
JEL-codes: C33 C34 C41 C51 C61 C72 J24 J31 J41 J42 J64 (search for similar items in EconPapers)
Date: 2001
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (25) Track citations by RSS feed

Downloads: (external link)
http://dx.doi.org/10.1006/redy.1999.0092 Full text (application/pdf)
Access to full texts is restricted to ScienceDirect subscribers and ScienceDirect institutional members. See http://www.sciencedirect.com/ for details.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:red:issued:v:4:y:2001:i:1:p:90-126

Ordering information: This journal article can be ordered from
https://www.economic ... ription-information/

DOI: 10.1006/redy.1999.0092

Access Statistics for this article

Review of Economic Dynamics is currently edited by Jonathan Heathcote and Vincenzo Quadrini

More articles in Review of Economic Dynamics from Elsevier for the Society for Economic Dynamics Contact information at EDIRC.
Bibliographic data for series maintained by Christian Zimmermann ().

 
Page updated 2019-08-20
Handle: RePEc:red:issued:v:4:y:2001:i:1:p:90-126