Looking Into The Black Box: A Survey Of The Matching Function

Christopher Pissarides and Barbara Petrongolo

No 2409, CEPR Discussion Papers from Centre for Economic Policy Research

Abstract: We survey the microfoundations, empirical evidence and estimation issues underlying the aggregate matching function. Several microeconomic matching mechanisms have been suggested in the literature with some successes but none is generally accepted as superior to all others. Instead, an aggregate matching function with hires as a function of vacancies and unemployment has been successfully estimated for several countries. The Cobb-Douglas restrictions with constant returns to scale perform well. Recent work has utilized disaggregated data to go beyond aggregate estimates, with many refinements and suggestions for future research.

Keywords: Beveridge curve; Coordinaton failures; Matching function; Mismatch; On-the-job search; Ranking; Search; Space aggregation; Stock-flow matching; Time aggregation (search for similar items in EconPapers)
JEL-codes: E21 J60 J63 J64 (search for similar items in EconPapers)
Date: 2000-03
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Citations: View citations in EconPapers (33)

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Journal Article: Looking into the Black Box: A Survey of the Matching Function (2001)
Working Paper: Looking Into the Black Box: A Survey of the Matching Function (2000)
Working Paper: Looking into the black box: a survey of the matching function (2000)
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