Data and Code for: Heterogeneous Responses to Job Mobility Shocks in a HANK Model with a Frictional Labor Market

Principal Investigator(s): View help for Principal Investigator(s) Serdar Birinci, Federal Reserve Bank of St. Louis; Fatih Karahan, Central Bank of the Republic of Turkiye; Yusuf Mercan, Federal Reserve Bank of Kansas City; Kurt See, Bank of Canada

Version: View help for Version V1

Name	File Type	Size	Last Modified
Replication Package			04/23/2024 11:16:PM

Project Citation:

Birinci, Serdar, Karahan, Fatih , Mercan, Yusuf, and See, Kurt . Data and Code for: Heterogeneous Responses to Job Mobility Shocks in a HANK Model with a Frictional Labor Market. Nashville, TN: American Economic Association [publisher], 2024. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2024-05-01. https://doi.org/10.3886/E201282V1

Project Description

Summary: We use a Heterogeneous Agent New Keynesian (HANK) model with a frictional labor market featuring on-the-job-search (OJS) to study how job switching affects consumption decisions for individuals with different wealth levels. We find that an increased job switching rate, driven by an exogenous shift in employed individuals' job search efficiency---acting as a positive future income shock---results in a larger decline in current demand for the wealth-rich relative to the wealth-poor. This larger consumption reduction for the wealth-rich is due to the equilibrium decline in their financial wealth.

Scope of Project

JEL Classification:
      E12 General Aggregative Models: Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
      E24 Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
      E52 Monetary Policy
      J31 Wage Level and Structure; Wage Differentials
      J62 Job, Occupational, and Intergenerational Mobility; Promotion
      J64 Unemployment: Models, Duration, Incidence, and Job Search

Related Publications

Download this project

Published Versions

V1 [2024-05-01]

Export Metadata

Dublin Core

DDI 2.5

Report a Problem

Found a serious problem with the data, such as disclosure risk or copyrighted content? Let us know.

This material is distributed exactly as it arrived from the data depositor. ICPSR has not checked or processed this material. Users should consult the investigator(s) if further information is desired.