Resource title

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

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Resource description

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.

Resource author

Andrey Launov

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Resource publish date

Resource language

eng

Resource content type

text/html

Resource resource URL

http://hdl.handle.net/10419/20046

Resource license

Adapt according to the presented license agreement and reference the original author.