A Study of the Austrian Labor Market Dynamics Using a Model of Search Equilibrium

Andrey Launov ()
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Andrey Launov: University of Kent

No 801, IZA Discussion Papers from Institute of Labor Economics (IZA)

Abstract: In this work we provide a theoretical overview of a search equilibrium model with continuous productivity dispersion and perform its estimation for the Austrian data. We describe empirically the dynamics of market equilibrium outcomes. Special emphasis is made on the analysis of changes in labour mobility and dependence of expected job durations on offered wages. We investigate the influence of excessive labour mobility on the equilibrium profits of firms. Facing a problem of top-coded wage data, we suggest an appropriate adjustment of the existing estimation methodology. Finally, we extend the econometric model for the observed heterogeneity of agents.

Keywords: search equilibrium; nonparametric estimation; top-coded wages (search for similar items in EconPapers)
JEL-codes: J64 (search for similar items in EconPapers)
Pages: 25 pages
Date: 2003-06
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