Replication data for: Efficient Firm Dynamics in a Frictional Labor Market

Principal Investigator(s): View help for Principal Investigator(s) Leo Kaas; Philipp Kircher

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Project Citation:

Kaas, Leo, and Kircher, Philipp. Replication data for: Efficient Firm Dynamics in a Frictional Labor Market. Nashville, TN: American Economic Association [publisher], 2015. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E112968V1

Project Description

Summary: We develop and analyze a labor market model in which heterogeneous firms operate under decreasing returns and compete for labor by posting long-term contracts. Firms achieve faster growth by offering higher lifetime wages, which allows them to fill vacancies with higher probability, consistent with recent empirical findings. The model also captures several other regularities about firm size, job flows, and pay, and generates sluggish aggregate dynamics of labor market variables. In contrast to existing bargaining models with large firms, efficiency obtains and the model allows a tractable characterization over the business cycle. (JEL E24, J64, L11)

Scope of Project

Subject Terms: Labor Market; Search and Matching; Firms

JEL Classification:
      E24 Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
      J64 Unemployment: Models, Duration, Incidence, and Job Search
      L11 Production, Pricing, and Market Structure; Size Distribution of Firms

Geographic Coverage: United States

Data Type(s): administrative records data; census/enumeration data; aggregate data

Methodology

Data Source: Business Dynamics Statistics, U.S. Census Bureau Business Employment Dynamics, U.S. Bureau of Labor Statistics

Unit(s) of Observation: Firms,

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Published Versions

V1 [2019-10-12]

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