Life-cycle Worker Flows and Cross-country Differences in Aggregate Employment

Jonathan Créchet (), Etienne Lalé () and Linas Tarasonis ()
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Jonathan Créchet: University of Ottawa
Etienne Lalé: York University, CIRANO and IZA
Linas Tarasonis: Bank of Lithuania and Vilnius University

No 124, Bank of Lithuania Working Paper Series from Bank of Lithuania

Abstract: We document how worker flows between employment, unemployment, and out of the labor force, vary by age and gender for a large panel of European countries. We develop and calibrate an extended Diamond-Mortensen-Pissarides model that captures all the salient features of these data. The model assigns a major role to the production technology in driving differences in aggregate employment, while, in contrast to Standard analyses, labor-market policies play only a secondary role. Search intensity and a laborforce participation decision are key for propagating the effects of technology across age and gender groups, and for explaining the variation in aggregate employment.

Keywords: Employment; Unemployment; Labor Force Participation; Life cycle; Worker Flows; Labor Market Institutions (search for similar items in EconPapers)
JEL-codes: E02 E24 J21 J64 J82 (search for similar items in EconPapers)
Pages: 75 pages
Date: 2024-06-11
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