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Directed search, unemployment and public policy

Benoit Julien (), John Kennes (), Ian King () and Sephorah Mangin ()

Canadian Journal of Economics/Revue canadienne d'économique, 2009, vol. 42, issue 3, 956-983

Abstract: Abstract We examine the effects of public policy parameters in a simple directed search model of the labour market, and contrast them with those in standard random matching models with Nash bargaining. Both finite and limit versions of the directed search model are considered, and the value of the limit model as an approximation of the finite one is assessed. As with the random matching model, job creation is the key channel through which the policy parameters affect the equilibrium of the directed search model. Both comparative static effects of the policy parameters and optimal configurations are identified. On examine les effets des paramètres de la politique publique dans un modèle simple de recherche dirigée d’emploi sur le marché du travail, et on les contraste avec ceux qu’on obtient par des modèles d’appariements aléatoires avec marchandage à la Nash. A la fois les versions finie et limite du modèle de recherche dirigée sont examinées, et la valeur du modèle limite en tant qu’approximation de la version finie est évaluée. Comme dans le modèle d’appariement aléatoire, la création d’emploi est le canal principal à travers lequel les paramètres de la politique affectent l’équilibre du marché du travail. On identifie les effets de statique comparative des paramètres de la politique ainsi que les configurations optimales.

Date: 2009
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https://doi.org/10.1111/j.1540-5982.2009.01534.x

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Journal Article: Directed search, unemployment and public policy (2009) Downloads
Working Paper: Directed Search, Unemployment and Public Policy (2008) Downloads
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