Neugart, Michael (2004)
Endogenous matching functions: an agent-based computational approach.
In: Advances in Complex Systems, 7 (2)
doi: 10.1142/S0219525904000147
Artikel, Bibliographie
Dies ist die neueste Version dieses Eintrags.
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: | 2004 |
| Autor(en): | Neugart, Michael |
| Art des Eintrags: | Bibliographie |
| Titel: | Endogenous matching functions: an agent-based computational approach |
| Sprache: | Englisch |
| Publikationsjahr: | 2004 |
| Ort: | Singapur |
| Verlag: | World Scientific |
| Titel der Zeitschrift, Zeitung oder Schriftenreihe: | Advances in Complex Systems |
| Jahrgang/Volume einer Zeitschrift: | 7 |
| (Heft-)Nummer: | 2 |
| DOI: | 10.1142/S0219525904000147 |
| URL / URN: | https://www.worldscientific.com/toc/acs/07/02 |
| Zugehörige Links: | |
| 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 |
| Zusätzliche Informationen: | also published in: R. Leombruni and M. Richiardi (eds.), Industry and labor dynamics, the agent-based computational economics approach, Proceedings of the wild@ace\-2003 workshop, World Scientific, New Jersey, pp. 90-106,2004) |
| 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: | 27 Mär 2012 12:46 |
| Letzte Änderung: | 18 Jul 2024 10:12 |
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Endogenous matching functions: An agent-based computational
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- Endogenous matching functions: an agent-based computational approach. (deposited 27 Mär 2012 12:46) [Gegenwärtig angezeigt]
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