Productivity growth, on-the-job search, and unemployment

Miyamoto, Hiroaki; Takahashi, Yuya

doi:10.1016/j.jmoneco.2011.11.007

Cited by 24 publications

(13 citation statements)

References 38 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…What is more plausible is the idea that in recessions, there may be fewer opportunities for productivity growth through reallocation across sectors of the economy. We think recent search and matching models that include on-the-job search, such as Michau (2013) and Miyamoto and Takahashi (2011), could be helpful frameworks for further understanding the declines we document.…”

Section: Vb Job Matching and Employment Dynamicsmentioning

confidence: 98%

The recent decline in employment dynamics

2013

View full text Add to dashboard Cite

Standard-Nutzungsbedingungen: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Abstract We document and attempt to explain the recent decline in employment dynamics in the U.S. We have four major empirical findings. First, each measure exhibits a "stair step" pattern, with the declines concentrated in recessions and little increase during subsequent expansions. Second, changes in the composition of workers and businesses can explain only a small amount of the decline. Third, any explanation for the decline in job creation and job destruction will account for no more than one-third of the decline in hires and separations. Fourth, the decline in hires and separations is driven by the disappearance of short-duration jobs. JEL Codes: E24, J63

show abstract

Section: Vb Job Matching and Employment Dynamicsmentioning

confidence: 98%

The recent decline in employment dynamics

2013

View full text Add to dashboard Cite

show abstract

“…Furthermore, in accordance with Mortensen and Pissarides (), Pissarides and Vallanti () and Miyamoto and Takahashi (), we assume the following form for search cost:

ξ_{t} = \bar{ξ} y_{t}

; that is, the search cost is proportionate to the scale of production,

\bar{ξ} \in (0, 1)

. Then, substituting

ξ_{t} = \bar{ξ} y_{t}

, (18) and (19) into (16) yields

false(1 - α false) false(1 - normalΩ (\bar{z}, β) false) = \frac{(1 + r_{t}) \bar{ξ}}{false(1 + g_{t - 1} false) q false(θ_{t - 1} false)} {()(, \frac{r_{t}}{r_{t - 1}})}^{\frac{α}{1 - α}},

where

g_{t - 1} \equiv false(N_{t} - N_{t - 1} false) / N_{t - 1}

is the growth rate of the variety.…”

Section: Labour Marketmentioning

confidence: 99%

Asset bubbles, labour market frictions and R&D‐based growth

Hashimoto

2019

Canadian J of Economics

View full text Add to dashboard Cite

Employing an overlapping generations model of R&D‐based growth with labour market frictions, this paper examines how employment changes induced by labour market frictions influence asset bubbles and long‐run economic growth. Asset bubbles can (cannot) exist when the employment rate is high (low), which leads to higher (lower) economic growth through labour market efficiency. We also explore the steady state and transitional dynamics of bubbles, economic growth and employment. Furthermore, we show that policy or parameter changes with a negative influence on the labour market can lead to a bubble burst.

show abstract

“…Turning now to the innovation location decision, we show that all intermediate firms locate process innovation in the country with the larger market. With constant national employment levels, intermediate production shares (27) and knowledge spillovers ( 13) are constant in the steady state (k = 0). Accordingly, the no-arbitrage condition for investment in process innovation (16) indicates that with symmetric initial productivity levels (z = z * ), the location with a higher level of knowledge spillovers (k) attracts all innovation activity, and all firms experience the same rate of productivity growth (ż/z =ż * /z * ).…”

Section: Production and Innovation Location Patternsmentioning

confidence: 99%

“…Addressing first the knowledge spillover effect, from ( 13), an increase in the degree of knowledge diffusion (λ) directly raises the level of knowledge spillovers (k). Similarly, from (27), an increase in the freeness of trade (ϕ) strengthens the home market effect, causing the home share of intermediate production (s) and the level of knowledge spillovers (k) to both rise. In either case, the technology condition (35) shifts to the right in Figure 1, with greater knowledge spillovers allowing for a faster rate of productivity growth (36).…”

Section: Economic Integrationmentioning

confidence: 99%

Productivity Growth, Industry Location Patterns and Labor Market Frictions

Davis

Hashimoto

2019

SSRN Journal

View full text Add to dashboard Cite

This paper constructs a two-country model of international trade to study how labor market frictions affect industry location patterns, unemployment rates, and fully endogenous productivity growth. We show that when the larger country offers subsidies to labor search costs or reduces unemployment benefits, the domestic unemployment rate falls, causing greater industry concentration and faster productivity growth, but higher unemployment for the smaller country. When similar labor market policies are implemented in the smaller country, however, the resulting fall in domestic unemployment leads to lower industry concentration and slower productivity growth, while lowering unemployment in the larger country.

show abstract

Productivity growth, on-the-job search, and unemployment

Cited by 24 publications

References 38 publications

The recent decline in employment dynamics

The recent decline in employment dynamics

Asset bubbles, labour market frictions and R&D‐based growth

Productivity Growth, Industry Location Patterns and Labor Market Frictions

Contact Info

Product

Resources

About