Returns to Labor Mobility

Lars Ljungqvist, Thomas Sargent and Isaac Baley

No 1288, Working Papers from Barcelona School of Economics

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: unemployment; human capital; turnover; labor mobility; matching model; turbulence; quits; layoff cost; search model; search-island model (search for similar items in EconPapers)
JEL-codes: E24 J63 J64 (search for similar items in EconPapers)
Date: 2021-09
New Economics Papers: this item is included in nep-dge
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