A Search Model with a Quasi-Network

João Miguel Ejarque
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João Miguel Ejarque: Department of Economics, University of Copenhagen

No 10-23, Discussion Papers from University of Copenhagen. Department of Economics

Abstract: This paper adds a quasi-network to a search model of the labor market. Fitting the model to an average unemployment rate and to other moments in the data implies the presence of the network is not noticeable in the basic properties of the unemployment and job finding rates. However, the network creates downward sloping reemployment hazards which the basic model does not, and under increasing network returns these hazards are significantly convex as we see in the data. Going into more detail we find that the network gets partially destroyed in periods of high unemployment and generates less job creation per link, while at the same time the jobs it does create, it does so with fewer links.

Keywords: duration; networks; search; unemployment (search for similar items in EconPapers)
JEL-codes: D83 D85 E24 J21 J64 (search for similar items in EconPapers)
Pages: 27 pages
Date: 2009-02, Revised 2010-09
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Persistent link: https://EconPapers.repec.org/RePEc:kud:kuiedp:1023

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