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Search Capital

Carlos Carrillo-Tudela () and Eric Smith ()

No 3741, CESifo Working Paper Series from CESifo

Abstract: We construct a simple equilibrium search model in which workers accumulate information about previously met employment contacts. We term the latter search capital. Here search capital (partially) insures workers against adverse shocks. The model provides a theory of job-to-job transitions that are associated with voluntary or involuntary mobility and with wage rises or wage cuts. It also shows why low wage and younger workers are associated with a higher probability of becoming unemployed.

Keywords: search capital; turnover; wage cuts (search for similar items in EconPapers)
JEL-codes: J62 J63 J64 (search for similar items in EconPapers)
Date: 2012
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https://www.ifo.de/DocDL/cesifo1_wp3741.pdf (application/pdf)

Related works:
Journal Article: Search Capital (2017) Downloads
Working Paper: Search Capital (2015) Downloads
Working Paper: Search Capital (2015) Downloads
Working Paper: Search Capital (2012) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:ces:ceswps:_3741

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