search query: @indexterm Unemployment duration / total: 21
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| Author: | Blanchard, O. Diamond, P. |
| Title: | Ranking, unemployment duration, and wages |
| Journal: | Review of Economic Studies
1994 : JUL, VOL. 61(3):208, p. 417-434 |
| Index terms: | UNEMPLOYMENT DURATION PAY COMPANY RANKING |
| Language: | eng |
| Abstract: | This paper examines the effects of the composition of unemployment on wage determination. It explores the implication of one central assumption: when firms receive multiple acceptable applications, they hire the worker who has been unemployed for the least amount of time. This assumption is contrasted with the assumption of random hiring. By embodying this assumption in a model of the labour market with job creation/destruction and matching, the joint behaviour of unemployment, the distribution of unemployment durations, and wages are characterized. |
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