A congestion theory of unemployment fluctuations (Record no. 525523)
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| 000 -LEADER | |
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| fixed length control field | 01281nam a22001457a 4500 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION | |
| fixed length control field | 240319b ||||| |||| 00| 0 eng d |
| 100 ## - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Mercan, Yusuf, Schoefer, Benjamin and Sedláček, Petr |
| 245 ## - TITLE STATEMENT | |
| Title | A congestion theory of unemployment fluctuations |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT) | |
| Place of publication, distribution, etc | American Economic Journal: Macroeconomics |
| 300 ## - PHYSICAL DESCRIPTION | |
| Extent | 16(1), Jan, 2024: p.238-285 |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc | We propose a theory of unemployment fluctuations in which new hires and incumbent workers are imperfect substitutes. Hence, attempts to hire away the unemployed during recessions diminish the marginal product of new hires, discouraging job creation. This single feature achieves a tenfold increase in the volatility of hiring in an otherwise standard search model, produces a realistic Beveridge curve despite countercyclical separations, and explains 30–40 percent of US unemployment fluctuations. Additionally, it explains the excess procyclicality of new hires' wages, the cyclical labor wedge, countercyclical earnings losses from job displacement, and the limited steady-state effects of unemployment insurance. – Reproduced https://www.aeaweb.org/articles?id=10.1257/mac.20210171 |
| 773 ## - HOST ITEM ENTRY | |
| Main entry heading | American Economic Journal: Macroeconomics |
| 906 ## - LOCAL DATA ELEMENT F, LDF (RLIN) | |
| Subject DIP | EMPLOYMENT |
| 942 ## - ADDED ENTRY ELEMENTS (KOHA) | |
| Item type | Articles |
| Withdrawn status | Lost status | Source of classification or shelving scheme | Damaged status | Not for loan | Permanent location | Current location | Date acquired | Serial Enumeration / chronology | Barcode | Date last seen | Koha item type |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Indian Institute of Public Administration | Indian Institute of Public Administration | 2024-03-19 | 16(1), Jan, 2024: p.238-285 | AR131321 | 2024-03-19 | Articles |