A Model of Job and Worker Flows

Nobuhiro Kiyotaki and Ricardo Lagos

Journal of Political Economy, 2007, vol. 115, issue 5, 770-819

Abstract: We develop an equilibrium search model that incorporates job-to-job transitions, exhibits instances of replacement hiring, and conceptually distinguishes between job and worker flows. We propose a notion of competitive equilibrium for random-matching environments and study the extent to which it achieves an efficient allocation of resources. The model can be used to study how the permanent incomes and employment states of individual workers evolve over time, the amount of worker turnover in excess of job reallocation, the lengths of job tenures and unemployment durations, and the size and persistence of changes in workers' incomes following displacements or job-to-job transitions. (c) 2007 by The University of Chicago. All rights reserved.

Date: 2007
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (16)

Downloads: (external link)
http://dx.doi.org/10.1086/524203 link to full text (text/html)
Access to full text is restricted to subscribers.

Related works:
Working Paper: A model of job and worker flows (2006)
Working Paper: A Model of Job and Worker Flows (2004)
Working Paper: A Model of Job and Worker Flows (2004)
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:ucp:jpolec:v:115:y:2007:i:5:p:770-819

Access Statistics for this article

More articles in Journal of Political Economy from University of Chicago Press
Bibliographic data for series maintained by Journals Division ().