Worker flows and job flows: a quantitative investigation
Shigeru Fujita and
Makoto Nakajima ()
No 16-3, Working Papers from Federal Reserve Bank of Philadelphia
This paper studies quantitative properties of a multiple-worker firm search/matching model and investigates how worker transition rates and job flow rates are interrelated. We show that allowing for job-to-job transitions in the model is essential to simultaneously account for the cyclical features of worker transition rates and job flow rates. Important to this result are the distinctions between the job creation rate and the hiring rate and between the job destruction rate and the layoff rate. In the model without job-to-job transitions, these distinctions essentially disappear, thus making it impossible to simultaneously replicate the cyclical features of both labor market flows.
Keywords: Job flows; and Search and matching; Worker flows; Multiple-worker firm (search for similar items in EconPapers)
JEL-codes: J64 E24 E32 J63 (search for similar items in EconPapers)
Pages: 36 pages
Date: 2016-02-05, Revised 2016-02-05
New Economics Papers: this item is included in nep-dge, nep-lab and nep-mac
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Journal Article: Worker Flows and Job Flows: A Quantitative Investigation (2016)
Working Paper: Worker flows and job flows: a quantitative investigation (2013)
Working Paper: Worker flows and job flows: a quantitative investigation (2009)
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