Endogenous Market Structures and Labour Market Dynamics
Copyright policy )Endogenous Market Structures and Labour Market Dynamics
We propose a flexible prices model where endogenous market structures and search and matching frictions in the labour market interact endogenously. The interplay between firms’ endogenous entry, strategic interactions among producers and labour market frictions represents a strong amplification channel for technology shocks on labour market variables and helps in addressing the unemployment- volatility puzzle. Consistently with US evidence, new firms create a large fraction of new jobs and grow faster than more mature firms, net entry of firms is procyclical and the price mark-up is countercyclical.
Firms Entry, 330, Size Distribution of Firms, Search and Matching Frictions, Endogenous Market Structures, Firms’ Entry, Search and Matching Frictions, Aggregate Human Capital, Aggregate Labor Productivity, Intergenerational Income Distribution, E32 - Business Fluctuations, and Market Structure, E32, ddc:330, Wages, endogenous market structures; firms’ entry; search and matching; friction, L11, Firms’ Entry, Endogenous Market Structure, Endogenous Market Structures, Unemployment, Cycles, Job Creation, E24 - Employment, Endogenous Market Structures; Firms' Entry; Search and Matching Frictions, E24, Pricing, L11 - Production, jel: jel:E24, jel: jel:E32, jel: jel:L11
Firms Entry, 330, Size Distribution of Firms, Search and Matching Frictions, Endogenous Market Structures, Firms’ Entry, Search and Matching Frictions, Aggregate Human Capital, Aggregate Labor Productivity, Intergenerational Income Distribution, E32 - Business Fluctuations, and Market Structure, E32, ddc:330, Wages, endogenous market structures; firms’ entry; search and matching; friction, L11, Firms’ Entry, Endogenous Market Structure, Endogenous Market Structures, Unemployment, Cycles, Job Creation, E24 - Employment, Endogenous Market Structures; Firms' Entry; Search and Matching Frictions, E24, Pricing, L11 - Production, jel: jel:E24, jel: jel:E32, jel: jel:L11
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