Mismatch cycles

dc.contributor.author Baley, Isaac
dc.contributor.author Figueiredo, Ana
dc.contributor.author Ulbricht, Robert
dc.date.accessioned 2024-01-18T10:07:48Z
dc.date.available 2024-01-18T10:07:48Z
dc.date.issued 2022
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 because of information frictions and is prolonged by search frictions. Estimated to the United States, 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.citation Baley I, Figueiredo A, Ulbricht R. Mismatch cycles. J Polit Econ. 2022;130(11):2943-84. DOI: 10.1086/720461
dc.identifier.issn 0022-3808
dc.identifier.uri http://hdl.handle.net/10230/58747
dc.language.iso eng
dc.publisher University of Chicago Press
dc.relation.ispartof Journal of Political Economy. 2022;130(11):2943-84
dc.rights.accessRights info:eu-repo/semantics/openAccess
dc.title Mismatch cycles
dc.type info:eu-repo/semantics/article
dc.type.version info:eu-repo/semantics/publishedVersion

Col·leccions