Journal ArticleDOI
Estimating a Structural Search Model: The Transition from School to Work
TLDR
In this paper, a finite-horizon search model that is econometrically implemented using all of the restrictions impli ed by the theory is presented, followed by a sample of male high school graduates from graduat ion to employment.Abstract:
This paper presents a finite-horizon search model that is econometrically implemented using all of the restrictions impli ed by the theory. Following a sample of male high school graduates fr om the youth cohort of the National Longitudinal Surveys from graduat ion to employment, search parameters are estimated. Reservation wages and offer probabilities are estimated to be quite low. Simulations a re performed of the impact of changing the parameters on the expected duration of unemployment. Copyright 1987 by The Econometric Society.read more
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Discrete Choice Methods with Simulation
TL;DR: In this paper, the authors describe the new generation of discrete choice methods, focusing on the many advances that are made possible by simulation, and compare simulation-assisted estimation procedures, including maximum simulated likelihood, method of simulated moments, and methods of simulated scores.
Journal ArticleDOI
Looking into the Black Box: A Survey of the Matching Function
TL;DR: This paper surveys the microfoundations, empirical evidence, and estimation issues underlying the aggregate matching function and discusses spatial aggregation issues, and implications of on-the-job search and of the timing of stocks and flows for estimated matching functions.
Journal ArticleDOI
Decision-Making Under Uncertainty: Capturing Dynamic Brand Choice Processes in Turbulent Consumer Goods Markets
Tülin Erdem,Michael Keane +1 more
TL;DR: In this article, the authors derive from the Bayesian learning framework how brand choice probabilities depend on past usage experience and advertising exposure, and then form likelihood functions for the models and estimate them using simulated maximum likelihood.
Journal ArticleDOI
Conditional Choice Probabilities and the Estimation of Dynamic Models
V. Joseph Hotz,Robert A. Miller +1 more
TL;DR: In this article, a new method for estimating the structural parameters of (discrete choice) dynamic programming problems is proposed. But the method is limited to the case of discrete choice problems.
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New Developments in Models of Search in the Labour Market
TL;DR: In this article, the authors survey recent work in equilibrium models of labor markets characterized by search and recruitment frictions and by the need to reallocate workers across productive activities, and use the framework to study the influence of alternative labor market institutions and policies on wages and unemployment.
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Journal ArticleDOI
A method for minimizing the impact of distributional assumptions in econometric models for duration data
TL;DR: In this article, a nonparametric maximum likelihood estimator for the distribution of unobservables and a computational strategy for implementing it is developed. But the estimator does not account for population variation in observed and unobserved variables unless it is assumed that individuals are homogeneous.
Journal ArticleDOI
The economics of job search: a survey*
Steven A. Lippman,John J. McCall +1 more
TL;DR: In this paper, the authors present a comprehensive and inte- grated analysis of job search, which is characterized by incomplete information and search is conducted in an optimal manner, and a variety of job-search models are studied in this microeconomic setting.
Journal ArticleDOI
Job Matching and Occupational Choice
TL;DR: In this paper, the authors present a model of job matching that generalizes the existing literature by allowing for different jobs types, or occupations, and show that it is optimal for the young and inexperienced to gravitate toward jobs exhibiting a certain kind of risk.
Posted Content
New Methods for Analyzing Structural Models of Labor Force Dynamics
TL;DR: In this paper, a partial equilibrium two state model of employment dynamics is estimated, using data from the National Longitudinal Survey of Young Men, and they find employment and non-employment rates implied by the structural parameter estimates to be generally consistent with those observed for the population of young males.
Journal ArticleDOI
New methods for analyzing structural models of labor force dynamics
TL;DR: In this paper, the economic theory of decision-making under uncertainty is used to produce three econometric models of dynamic discrete choice: (1) for a single spell of unemployment; (2) for an equilibrium two-state model of employment and non-employment; (3) for general three-state models with a non-market sector.