Search Frictions,Wage Dispersion and Capital Misallocation
發(fā)布時間:2024-03-22 22:19
收入不均一直是經濟學中的一項核心議題。由于工資是收入的主要組成部分,探究同工不同酬的原因具有重要的現實意義。很多實證文獻表明現實中存在嚴重的同工不同酬問題(Mortensen,2003)。工作搜尋只有當同工不同酬出現時才有意義,因此研究者們一直試圖在該框架內將同工不同酬內生化。本文在工作搜尋的框架內,為同工不同酬提供了兩個替代性的解釋。我們首先通過允許企業(yè)在招人之前租賃資本,拓展了Burdett and Mortens(1998)在職搜尋模型。該拓展模型指出,企業(yè)在租賃資本時面臨著以下兩方面的考量:更大的資本租賃數量一方面意味著招聘成功之后的高產出,另一方面意味著招聘失敗后面臨較高的資本閑置成本。作為Burdett and Mortensen(1998)均衡結果的類比,我們證明了當存在在職搜尋時,事前相同的企業(yè)在均衡中會選擇租賃不同數量的資本。其次,當存在在職搜尋時,企業(yè)在選擇提供給員工的工資時面臨著如下權衡:高工資一方面意味著企業(yè)更容易招聘到并留用工人,因此由或有的工作轉換導致的成本較低;另一方面,高工資意味著招聘利潤更低。此處招聘利潤定義為勞動生產率減去工資成本。注意到租賃更多資本...
【文章頁數】:137 頁
【學位級別】:博士
【文章目錄】:
中文摘要
Abstract
Acknowledgements
Chapter 1 Introduction
Chapter 2 A Generalized Burdett and Mortensen (1998) Model
2.1 Model Environment
2.2 Value Functions
2.3 Equilibrium
Chapter 3 Characterization
3.1 Optimization
3.2 Equilibrium Capital Misallocation and Wage Dispersion
3.2.1 On-the-job Search and Capital Misallocation
3.2.2 The Mechanism of On-the-job Search
3.2.3 Wage Dispersion
3.3 Frictional Output Losses
3.4 Existence and Uniqueness of The Equilibrium
Chapter 4 Comparative Static Analyses
4.1 Job Creation and Job Destruction
4.2 Capital Misallocation
Chapter 5 Quantitative Analysis
5.1 Identification
5.2 Data
5.3 Parameterizations
5.4 Calibration Results
5.4.1 Inequality and Misallocation
5.4.2 Frictional Output Losses
5.5 Counterfactual Analyses
5.5.1 The UI Issues
5.5.2 The Effects of Aggregate Productivity and Monetary Policy Shocks
Chapter 6 Discussions on Robustness
6.1 A Capital-Purchasing Model with Depreciation
6.1.1 Theory
6.1.2 Numerical Results
6.2 Resetting Capital Intensity
6.2.1 Theory
6.2.2 Numerical Results
Chapter 7 An Alternative Explanation of Wage Dispersion
7.1 The Wage-Bargaining Model With Commitment
7.2 Equilibrium Concepts
7.3 Characterization
7.3.1 The Distribution of Firm Size
7.3.2 Holdup, Firm-Size Wage Premium and Wage Dispersion
7.4 Parameterizations and Calibrations
7.4.1 Parameterizations
7.4.2 Calibration Results
7.4.3 Idiosyncratic Productivity Shocks
7.5 Literature Reviews
Chapter 8 Implications and Conclusions
Bibliography
Appendix A The proofs in Chapter 3
A.1 The Proof of Lemma 1
A.2 The Proof of Lemma 2
A.3 The Proof of Proposition 1
A.4 The Proof of Proposition 2
A.5 The Proof of Proposition 3
A.6 The solution procedure of the first-best allocation
A.7 The proof of Proposition 4
Appendix B Identification and Estimination
B.1 Identification
B.2 Data
B.3 Estimation Procedure
Appendix C The proofs in Section 7
C.1 Proof of Lemma 4
C.2 Proof of Proposition 6
C.3 Proof of Proposition 8 and the Monotonicity of the Profit Effect
C.4 Proof of Proposition 10
C.5 Data and Sources
C.6 The Model with Idiosyncratic Productivity Shock
Appendix D Researches During My Ph.D
本文編號:3935031
【文章頁數】:137 頁
【學位級別】:博士
【文章目錄】:
中文摘要
Abstract
Acknowledgements
Chapter 1 Introduction
Chapter 2 A Generalized Burdett and Mortensen (1998) Model
2.1 Model Environment
2.2 Value Functions
2.3 Equilibrium
Chapter 3 Characterization
3.1 Optimization
3.2 Equilibrium Capital Misallocation and Wage Dispersion
3.2.1 On-the-job Search and Capital Misallocation
3.2.2 The Mechanism of On-the-job Search
3.2.3 Wage Dispersion
3.3 Frictional Output Losses
3.4 Existence and Uniqueness of The Equilibrium
Chapter 4 Comparative Static Analyses
4.1 Job Creation and Job Destruction
4.2 Capital Misallocation
Chapter 5 Quantitative Analysis
5.1 Identification
5.2 Data
5.3 Parameterizations
5.4 Calibration Results
5.4.1 Inequality and Misallocation
5.4.2 Frictional Output Losses
5.5 Counterfactual Analyses
5.5.1 The UI Issues
5.5.2 The Effects of Aggregate Productivity and Monetary Policy Shocks
Chapter 6 Discussions on Robustness
6.1 A Capital-Purchasing Model with Depreciation
6.1.1 Theory
6.1.2 Numerical Results
6.2 Resetting Capital Intensity
6.2.1 Theory
6.2.2 Numerical Results
Chapter 7 An Alternative Explanation of Wage Dispersion
7.1 The Wage-Bargaining Model With Commitment
7.2 Equilibrium Concepts
7.3 Characterization
7.3.1 The Distribution of Firm Size
7.3.2 Holdup, Firm-Size Wage Premium and Wage Dispersion
7.4 Parameterizations and Calibrations
7.4.1 Parameterizations
7.4.2 Calibration Results
7.4.3 Idiosyncratic Productivity Shocks
7.5 Literature Reviews
Chapter 8 Implications and Conclusions
Bibliography
Appendix A The proofs in Chapter 3
A.1 The Proof of Lemma 1
A.2 The Proof of Lemma 2
A.3 The Proof of Proposition 1
A.4 The Proof of Proposition 2
A.5 The Proof of Proposition 3
A.6 The solution procedure of the first-best allocation
A.7 The proof of Proposition 4
Appendix B Identification and Estimination
B.1 Identification
B.2 Data
B.3 Estimation Procedure
Appendix C The proofs in Section 7
C.1 Proof of Lemma 4
C.2 Proof of Proposition 6
C.3 Proof of Proposition 8 and the Monotonicity of the Profit Effect
C.4 Proof of Proposition 10
C.5 Data and Sources
C.6 The Model with Idiosyncratic Productivity Shock
Appendix D Researches During My Ph.D
本文編號:3935031
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