Search Capital

Carlos Carrillo-Tudela and Eric Smith

No 6366, IZA Discussion Papers from Institute of Labor Economics (IZA)

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: turnover; search capital; wage cuts (search for similar items in EconPapers)
JEL-codes: J62 J63 J64 (search for similar items in EconPapers)
Pages: 9 pages
Date: 2012-02
New Economics Papers: this item is included in nep-dge, nep-lab and nep-mic
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Published - published in: Review of Economic Dynamics, 2017, 23, 191 - 211.

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Related works:
Journal Article: Search Capital (2017)
Working Paper: Search Capital (2015)
Working Paper: Search Capital (2015)
Working Paper: Search Capital (2012)
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