✦ LIBER ✦

A structural model of aggregate US job flows: another look

✍ Scribed by Philipp Schmidt-Dengler

Publisher: John Wiley and Sons
Year: 2003
Tongue: English
Weight: 73 KB
Volume: 18
Category: Article
ISSN: 0883-7252
DOI: 10.1002/jae.702

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✦ Synopsis

Abstract

A recent article (Collard et al., 2002) published in this journal presented a structural model of aggregate job flows. Unrestricted estimation of the model yields parameter estimates that would imply an unemployment rate of 99%. Instead of solving this problem by fixing one of the parameters, as originally attempted by the authors, I add moments regarding the employment rate. The new results call for a re‐evaluation of the model. Copyright © 2003 John Wiley & Sons, Ltd.

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