Neugart, Michael (2024)
Endogenous matching functions: An agent-based computational
approach.
In: Advances in Complex Systems, 2004, 7 (2)
doi: 10.26083/tuprints-00027428
Artikel, Zweitveröffentlichung, Postprint
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Kurzbeschreibung (Abstract)
The matching function has become a popular tool in labor economics. It relates job creation (a flow variable) to two stock variables: vacancies and job searchers. In most studies the matching function is considered to be exogenous and assumed to have certain properties. The present study, instead, looks at the properties of an endogenous matching function. For this purpose we have programmed an agent-based computational labor market model with endogenous job creation and endogenous job search behavior. Our~simulations suggest that the endogenous matching technology is subject to decreasing returns to scale. The Beveridge curve reveals substitutability of job searchers and vacancies for a small range of inputs, but is flat for relatively high numbers of job searchers and vertical for relatively high numbers of vacancies. Moreover, the matching technology changes with labor market policies. This raises concerns about the validity of labor market policy evaluations conducted with flow models of the labor market that employ exogenous matching functions.
| Typ des Eintrags: | Artikel |
|---|---|
| Erschienen: | 2024 |
| Autor(en): | Neugart, Michael |
| Art des Eintrags: | Zweitveröffentlichung |
| Titel: | Endogenous matching functions: An agent-based computational approach |
| Sprache: | Englisch |
| Publikationsjahr: | 24 Juni 2024 |
| Ort: | Darmstadt |
| Publikationsdatum der Erstveröffentlichung: | 2004 |
| Ort der Erstveröffentlichung: | Singapur |
| Verlag: | World Scientific |
| Titel der Zeitschrift, Zeitung oder Schriftenreihe: | Advances in Complex Systems |
| Jahrgang/Volume einer Zeitschrift: | 7 |
| (Heft-)Nummer: | 2 |
| Kollation: | 15 Seiten |
| DOI: | 10.26083/tuprints-00027428 |
| URL / URN: | https://tuprints.ulb.tu-darmstadt.de/27428 |
| Zugehörige Links: | |
| Herkunft: | Zweitveröffentlichungsservice |
| Kurzbeschreibung (Abstract): | The matching function has become a popular tool in labor economics. It relates job creation (a flow variable) to two stock variables: vacancies and job searchers. In most studies the matching function is considered to be exogenous and assumed to have certain properties. The present study, instead, looks at the properties of an endogenous matching function. For this purpose we have programmed an agent-based computational labor market model with endogenous job creation and endogenous job search behavior. Our~simulations suggest that the endogenous matching technology is subject to decreasing returns to scale. The Beveridge curve reveals substitutability of job searchers and vacancies for a small range of inputs, but is flat for relatively high numbers of job searchers and vertical for relatively high numbers of vacancies. Moreover, the matching technology changes with labor market policies. This raises concerns about the validity of labor market policy evaluations conducted with flow models of the labor market that employ exogenous matching functions. |
| Freie Schlagworte: | Endogenous matching function, labor market models, agent-based computational model |
| Status: | Postprint |
| URN: | urn:nbn:de:tuda-tuprints-274286 |
| Sachgruppe der Dewey Dezimalklassifikatin (DDC): | 300 Sozialwissenschaften > 330 Wirtschaft |
| Fachbereich(e)/-gebiet(e): | 01 Fachbereich Rechts- und Wirtschaftswissenschaften 01 Fachbereich Rechts- und Wirtschaftswissenschaften > Volkswirtschaftliche Fachgebiete 01 Fachbereich Rechts- und Wirtschaftswissenschaften > Volkswirtschaftliche Fachgebiete > Fachgebiet Finanzwissenschaft und Wirtschaftspolitik |
| Hinterlegungsdatum: | 24 Jun 2024 09:54 |
| Letzte Änderung: | 18 Jul 2024 10:13 |
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| Suche nach Titel in: | TUfind oder in Google |
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- Endogenous matching functions: An agent-based computational approach. (deposited 24 Jun 2024 09:54) [Gegenwärtig angezeigt]
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