Econometrica Vol. 58 No. 4 1990
Estimating a Market Equilibrium Search Model from Panel Data on Individuals
Abstract
In this paper, the feasibility of estimating a Nash labor market equilibrium model using only information on workers is demonstrated. The equilibrium model, adapted from Albrecht and Axell (1984), is based on workers who are homogenous in terms of market productivity and heterogeneous in terms of nonmarket productivity, and on firms that are heterogeneous in terms of productive efficiency. The equilibrium model is contrasted with an unrestricted version of the model in terms of its fit to the data.
- DOI
- 10.2307/2938350
- Volume
- 58
- Issue
- 4
- Pages
- 783
- Sources
- bibtex:phds-export.bib crossref openalex