Replication data for: Exogenous versus Endogenous Separation
Principal Investigator(s): View help for Principal Investigator(s) Shigeru Fujita; Garey Ramey
Version: View help for Version V1
Name | File Type | Size | Last Modified |
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Data_and_Programs_2011236 | 10/12/2019 09:38:PM | ||
LICENSE.txt | text/plain | 14.6 KB | 10/12/2019 05:38:PM |
Project Citation:
Fujita, Shigeru, and Ramey, Garey. Replication data for: Exogenous versus Endogenous Separation. Nashville, TN: American Economic Association [publisher], 2012. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E114258V1
Project Description
Summary:
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This paper assesses how various approaches to modeling the separation
margin affect the quantitative ability of the Mortensen-Pissarides labor matching model. The model with a constant separation rate fails to produce realistic volatility and productivity responsiveness of the separation rate and worker flows. The specification with endogenous separation succeeds along these dimensions. Allowing for on-the-job search enables the model to replicate the Beveridge curve. All specifications, however, fail to generate sufficient volatility of the job finding rate. While adopting the Hagedorn-Manovskii calibration remedies this problem, the volume of job-to-job transitions in the on-the-job search specification becomes essentially zero.
(JEL E24, J41, J64)
Scope of Project
JEL Classification:
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E24 Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
J41 Labor Contracts
J64 Unemployment: Models, Duration, Incidence, and Job Search
E24 Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
J41 Labor Contracts
J64 Unemployment: Models, Duration, Incidence, and Job Search
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