Generalisation of the gross flows model

Marcin Penconek and Pawel Strawinski
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Marcin Penconek: University of Warsaw, Faculty of Economic Sciences

No 2022-17, Working Papers from Faculty of Economic Sciences, University of Warsaw

Abstract: In this study, we generalise Shimer's (2012) gross ow model in three directions using the Perron-Frobenius theorem. While the seminal work of Shimer (2012) analysed a labour market model with dynamic gross flows, three states of the economy, and stable population, our generalised model allows for considering more than three states of the economy, allows the size of the economy to change over time, and generalises the process of calculating steady states from empirical data. Our model provides a theoretical background for similar dynamic problems.

Keywords: dynamic market model; Perron-Frobenius theorem; worker flows; labour market status (search for similar items in EconPapers)
JEL-codes: C62 J21 J63 (search for similar items in EconPapers)
Pages: 16 pages
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:war:wpaper:2022-17

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