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| Author: | Moscarini, G. |
| Title: | Excess Worker Reallocation |
| Journal: | Review of Economic Studies
2001 : VOL. 68(3):236, p. 593-612 |
| Index terms: | ALLOCATION WORKERS MACROECONOMICS |
| Language: | eng |
| Abstract: | Workers face a trade-off between macroeconomic and individual incentives to work in different occupations/ industries, namely, between search frictions and personal comparative advantages Workers endowed with heterogeneous multi-dimensional skills search for jobs that require different skill combinations In equilibrium, specialized individuals contact few, selected types of vacancies, where they are likely to be hired, those with weak comparative advantages are seldom chosen among competing applicants, thus seek any job type In a tight labour market, comparative advantages dominate waiting costs offsetting labour mobility across industries or occupations- Excess Worker Reallocation - is lower and matches are more successful, consistently with direct and indirect evidence. |
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