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Essays on Search
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| 자료유형 | 학위논문 |
|---|---|
| 서명/저자사항 | Essays on Search. |
| 개인저자 | Hursey, Timothy. |
| 단체저자명 | University of Pennsylvania. Economics. |
| 발행사항 | [S.l.]: University of Pennsylvania., 2019. |
| 발행사항 | Ann Arbor: ProQuest Dissertations & Theses, 2019. |
| 형태사항 | 116 p. |
| 기본자료 저록 | Dissertations Abstracts International 81-03A. Dissertation Abstract International |
| ISBN | 9781085614313 |
| 학위논문주기 | Thesis (Ph.D.)--University of Pennsylvania, 2019. |
| 일반주기 |
Source: Dissertations Abstracts International, Volume: 81-03, Section: A.
Advisor: DiTraglia, Francis. |
| 이용제한사항 | This item must not be sold to any third party vendors. |
| 요약 | This dissertation consists of three chapters that examine search frictions within the macroeconomy. In the first chapter, I construct a model of simultaneous search to propose a novel contributor to the twin effects of labor force participation decline and rising wage inequality. An algorithm for solving the pairwise-stable matching in a macro environment is provided and incorporated into a dynamic, general equilibrium model. Falling search costs will generate falling labor force participation-as the lowest ranked workers are crowded out of the market-and rising wage inequality-as the competition for desired skills increases. An empirical tests corroborates the effects of cheap search on falling participation.Chapter 2 assesses the contribution of aggregate vs. sectoral shocks to output volatility by building a real business cycle model calibrated to match realistic structure in the market for all three major inputs to production---material inputs, capital goods and labor. While the former two inputs are standard, this paper innovates on previous methods by first expounding the structure of sectoral labor reallocation and then calibrating a model to match its features. A common-factor estimation procedure attributes approximately half of aggregate output volatility to sectoral shocks.In Chapter 3, I explore the implications of lower search costs for product markets by building a micro-founded model of shopping within an industry that features realistic product search frictions. I show via a precise characterization that either increasing or decreasing prices in response to cheaper search can be consistent with competitive equilibrium, depending on the distribution of consumer tastes. This distribution-dependence further dictates whether firms and varieties enter or exit the marketplace. |
| 일반주제명 | Economic theory. |
| 언어 | 영어 |
| 바로가기 | 
: 이 자료의 원문은 한국교육학술정보원에서 제공합니다. |
