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| Author: | Mortensen, D. Pissarides, C. |
| Title: | Job creation and job destruction in the theory of unemployment |
| Journal: | Review of Economic Studies
1994 : JUL, VOL. 61(3):208, p. 397-415 |
| Index terms: | JOB CREATION UNEMPLOYMENT THEORIES |
| Language: | eng |
| Abstract: | In this paper the authors model a job-specific shock process in the matching model of unemployment with non-cooperative wage behavior. They obtain endogenous job creation and job destruction processes and study their properties. The authors show that an aggregate shock induces negative correlation between job creation and job destruction whereas a dispersion shock induces positive correlation. The job destruction process is shown to have more volatile dynamics than the job creation process. |
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