Abstract: Models of job search typically assume that search can either be described as random or competitive. However, there is scant empirical evidence to guide the choice between these frameworks. In this paper we show that the semi-elasticity of the hazard rate differs across the two models and test this implication using likelihood ratio tests. We find evidence against random search by showing that changes in the model-implied hazard rate are not consistent with those observed in the data.
Abstract: We construct an aggregate labor input series from 1979 to adjust for changes in the experience and education levels of the workforce using the Current Population Survey's Outgoing Rotation Groups. We compare the cyclical behavior of labor input to aggregate hours - finding that labor input is about 11% less volatile over the business cycle and that the quality of the workforce is countercyclical. We show that a decrease in labor productivity beginning in 2004, the "productivity slowdown," is understated by 23 percentage points when using aggregate hours instead of labor input to calculate productivity, and that 80% of the average quarterly growth rate of labor productivity can be attributed to increases in education and experience since 2004.
Abstract: From 1964-1990, the aggregate intercounty migration rate remained largely unchanged, after which it began to decrease. During this same period, however, the intercounty migration rate of married couples steadily declined while the migration rate of single individuals concurrently increased. These differential trends suggest important differences in how multi-member households and individuals make decisions. This paper builds on the extensive demography and labor literature by asking how much of the decline in the mobility of married couples can be accounted for by the rapid increase in female labor force participation from 1960 to 2000?