Job Creation and Job Destruction in the Theory of Unemployment

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ID: 289815
1994
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Abstract
In this paper we model a job-specific shock process in the matching model of unemployment with non-cooperative wage behaviour. We obtain endogenous job creation and job destruction processes and study their properties. We show that an aggregate shock induces negative correlation between job creation and job destruction whereas a dispersion shock induces positive correlation. The job destruction process is shown to have more volatile dynamics than the job creation process. In simulations we show that an aggregate shock process proxies reasonably well the cyclical behaviour of job creation and job destruction in the United States.
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openalex_W2766214425 Use this key to autocite in the manuscript while using SciMatic Manuscript Manager or Thesis Manager
Authors Dale T. Mortensen, Christopher A. Pissarides
Journal The Review of Economic Studies
Year 1994
DOI
10.2307/2297896
URL
https://doi.org/10.2307/2297896
Keywords Keywords not found

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