Mismatch cycles
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- dc.contributor.author Baley, Isaac
- dc.contributor.author Figueiredo, Ana
- dc.contributor.author Ulbricht, Robert
- dc.contributor.other Universitat Pompeu Fabra. Departament d'Economia i Empresa
- dc.date.accessioned 2024-11-14T10:10:12Z
- dc.date.available 2024-11-14T10:10:12Z
- dc.date.issued 2020-01-31
- dc.date.modified 2024-11-14T10:06:42Z
- dc.description.abstract This paper studies the cyclical dynamics of skill mismatch and quantifies its impact on labor productivity. We build a tractable directed search model, in which workers differ in skills along multiple dimensions and sort into jobs with heterogeneous skill requirements. Skill mismatch arises due to information frictions and is prolonged by search frictions. Estimated to the U.S., the model replicates salient business cycle properties of mismatch. Job transitions in and out of bottom job rungs, combined with career mobility, are key to account for the empirical fit. The model provides a novel narrative for the scarring effect of unemployment.
- dc.format.mimetype application/pdf*
- dc.identifier https://econ-papers.upf.edu/ca/paper.php?id=1694
- dc.identifier.citation Journal of Political Economy, forthcoming
- dc.identifier.uri http://hdl.handle.net/10230/44786
- dc.language.iso eng
- dc.relation.ispartofseries Economics and Business Working Papers Series; 1694
- dc.rights L'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons
- dc.rights.accessRights info:eu-repo/semantics/openAccess
- dc.rights.uri http://creativecommons.org/licenses/by-nc-nd/3.0/es/
- dc.subject.keyword business cycles
- dc.subject.keyword cleansing
- dc.subject.keyword learning about skills
- dc.subject.keyword multidimensional sorting
- dc.subject.keyword scarring effect of unemployment
- dc.subject.keyword search-and-matching
- dc.subject.keyword skill mismatch
- dc.subject.keyword sullying.
- dc.subject.keyword Macroeconomics and International Economics
- dc.title Mismatch cycles
- dc.title.alternative
- dc.type info:eu-repo/semantics/workingPaper