search query: @author Caballero, R. / total: 5
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| Author: | Bertola, G. Caballero, R. |
| Title: | Cross-sectional efficiency and labour hoarding in a matching model of unemployment |
| Journal: | Review of Economic Studies
1994 : JUL, VOL. 61(3):208, p. 435-456 |
| Index terms: | UNEMPLOYMENT EFFICIENCY ECONOMICS |
| Language: | eng |
| Abstract: | The authors study positive and normative aspects of steady-state equilibrium in a market where firms of endogenous size experience idiosyncratic shocks and undergo a costly search process to hire their workers. The stylized model they propose highlights interactions between job-security provisions and sectoral shocks in determining the natural rate of unemployment, the allocation of labour, and the extent of labour hoarding, and rationalizes cross-sectional asymmetries of gross employment flows at the firm level. |
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