No . 17 / 04 Job Search Mechanism and Individual Behaviour

  title={No . 17 / 04 Job Search Mechanism and Individual Behaviour},
  author={Massimo Giannini},
This paper modelles job search mechanism at individual level by a determinstic-stochastic approach in a economy with perfect competion and rational agents. Each single unit, firm or worker, is analyzed over time; aggregate dynamics comes directly from the micro-structure of the economy. We show that the unemployment as well as vacancy rate converge in the long run to an ergodic distribution whose average value lies on the Beverdige curve. Transitional paths are not-monotone and depending on… CONTINUE READING