The empirical content of the job search model: labor mobility and wage distributions in Europe and the US
Grégory Jolivet
(1)
,
Fabien Postel-Vinay
(2, 3, 4, 5, 6, 7, 8, 9, 10, 11)
,
Jean-Marc Robin
(12, 13)
1
CES -
Centre d'économie de la Sorbonne
2 CREST - Centre de Recherche en Économie et Statistique
3 LEA - Laboratoire d'Economie Appliquée
4 Department of Economics
5 PJSE - Paris Jourdan Sciences Economiques
6 CEPR - Center for Economic Policy Research
7 University of Bristol [Bristol]
8 ECON - Département d'économie (Sciences Po)
9 IZA - Institute for the Study of Labor
10 DELTA - Département et Laboratoire d'Economie Théorique et Appliquée
11 INRA
12 Economics department
13 UP1 - Université Paris 1 Panthéon-Sorbonne
2 CREST - Centre de Recherche en Économie et Statistique
3 LEA - Laboratoire d'Economie Appliquée
4 Department of Economics
5 PJSE - Paris Jourdan Sciences Economiques
6 CEPR - Center for Economic Policy Research
7 University of Bristol [Bristol]
8 ECON - Département d'économie (Sciences Po)
9 IZA - Institute for the Study of Labor
10 DELTA - Département et Laboratoire d'Economie Théorique et Appliquée
11 INRA
12 Economics department
13 UP1 - Université Paris 1 Panthéon-Sorbonne
Fabien Postel-Vinay
- Fonction : Auteur
- PersonId : 1321862
Jean-Marc Robin
- Fonction : Auteur
- PersonId : 962566
- IdHAL : jean-marc-robin
- ORCID : 0000-0002-3574-9359
- IdRef : 034123199
Résumé
Job search models of the labor market hypothesize a very tight correspondence between the determinants of labor turnover and individual wage dynamics on one hand, and the determinants of wage dispersion on the other. This paper offers a systematic examination of whether this correspondence is present in the data by estimating a rudimentary partial equilibrium job search model on a 3-year panel of individual worker data covering 10 European countries and the U.S. We find that our basic job search model fits the data surprisingly well. This also allows us to point at a number of interesting empirical regularities about wage distributions. Our results suggest that cross-sectional data on individual wages contain the basic information needed to obtain a reliable measure of the “magnitude of labor market frictions”, as measured by a parameter of the canonical job search model. Finally, we use our results in a cross-country comparison of the intensity and nature of job-to-job turnover. We arrange countries into two different groups according to their turnover intensity. We further show that the nature of job-to-job turnover is very different between those two groups: Turnover is predominantly voluntary in low-turnover countries, whereas it is to a large extent involuntary in high-turnover countries.
Domaines
Economies et financesFormat du dépôt | Notice |
---|---|
Type de dépôt | Article dans une revue |
Titre |
en
The empirical content of the job search model: labor mobility and wage distributions in Europe and the US
|
Résumé |
en
Job search models of the labor market hypothesize a very tight correspondence between the determinants of labor turnover and individual wage dynamics on one hand, and the determinants of wage dispersion on the other. This paper offers a systematic examination of whether this correspondence is present in the data by estimating a rudimentary partial equilibrium job search model on a 3-year panel of individual worker data covering 10 European countries and the U.S. We find that our basic job search model fits the data surprisingly well. This also allows us to point at a number of interesting empirical regularities about wage distributions. Our results suggest that cross-sectional data on individual wages contain the basic information needed to obtain a reliable measure of the “magnitude of labor market frictions”, as measured by a parameter of the canonical job search model. Finally, we use our results in a cross-country comparison of the intensity and nature of job-to-job turnover. We arrange countries into two different groups according to their turnover intensity. We further show that the nature of job-to-job turnover is very different between those two groups: Turnover is predominantly voluntary in low-turnover countries, whereas it is to a large extent involuntary in high-turnover countries.
|
Auteur(s) |
Grégory Jolivet
1
, Fabien Postel-Vinay
2, 3, 4, 5, 6, 7, 8, 9, 10, 11
, Jean-Marc Robin
12, 13
1
CES -
Centre d'économie de la Sorbonne
( 15080 )
- Maison des Sciences Économiques - 106-112 Boulevard de l'Hôpital - 75647 Paris Cedex 13
- France
2
CREST -
Centre de Recherche en Économie et Statistique
( 2579 )
- 5, Avenue Henry Le Chatelier
91120 Palaiseau
- France
3
LEA -
Laboratoire d'Economie Appliquée
( 37750 )
- France
4
Department of Economics
( 120984 )
- University College London - Gower Street - London - WC1E 6BT
- Royaume-Uni
5
PJSE -
Paris Jourdan Sciences Economiques
( 578027 )
- 48 boulevard Jourdan 75014 Paris
- France
6
CEPR -
Center for Economic Policy Research
( 143559 )
- Royaume-Uni
7
University of Bristol [Bristol]
( 220393 )
- Senate House, Tyndall Avenue, Bristol BS8 1TH
- Royaume-Uni
8
ECON -
Département d'économie (Sciences Po)
( 226874 )
- 28 rue des Saints-Pères - 75007 Paris
- France
9
IZA -
Institute for the Study of Labor
( 103374 )
- Bonn
- Allemagne
10
DELTA -
Département et Laboratoire d'Economie Théorique et Appliquée
( 25318 )
- 48 boulevard Jourdan - 75014 Paris
- France
11
INRA
( 54079 )
- France
12
Economics department
( 163489 )
- "Department of Economics Massachusetts Institute of Technology 50 Memorial Drive E52-391 Cambridge, MA 02142"
- États-Unis
13
UP1 -
Université Paris 1 Panthéon-Sorbonne
( 7550 )
- 12 place du Panthéon, 75231 Paris Cedex 05
- France
|
Langue du document |
Anglais
|
Nom de la revue |
|
Vulgarisation |
Non
|
Comité de lecture |
Oui
|
Audience |
Non spécifiée
|
Date de publication |
2006
|
Volume |
50
|
Numéro |
4
|
Page/Identifiant |
877 - 907
|
Public visé |
Scientifique
|
Mots-clés (JEL) |
|
Référence interne |
|
Domaine(s) |
|
Mots-clés |
en
Labor market frictions, Wage distributions, Wage dynamics, Job mobility
|
DOI | 10.1016/j.euroecorev.2006.02.005 |
Spire (Sciences Po) | 2441/dc0ckec3fcb29ms9850ciitj1 |
UT key WOS | 000237999600005 |
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