English, Article, Journal or magazine article edition: An Estimate of a Sectoral Model of Labor Mobility Boyan Jovanovic; Robert Moffitt

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Bookmark: http://trove.nla.gov.au/version/140697
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • An Estimate of a Sectoral Model of Labor Mobility
Author
  • Boyan Jovanovic
  • Robert Moffitt
Physical Description
  • preprint
Notes
  • This paper develops a model of sectoral labor mobility and tests its main implications. The model nests two distinct hypotheses on the origin of mobility: (a) sectoral shocks (Lucas and Prescott, 1974) and (b) workeremployer mismatch (Jovanovic, 1979, Miller, 1984, Flinn, 1986). We estimate the relative importance of each hypothesis, and find that the bulk of labor mobility is caused by mismatch rather than by sectoral shift. We then try to put a value on society's match-specific information. That is, we ask to what extent the availability of the option to change jobs raises GNP. We find that the mobility option raises expected earnings by roughly between 8.5 percent and 13 percent of labor earnings, which translates to an increase in GNP of between 6 percent and 9 percent.
  • RePEc:nbr:nberwo:3227
Language
  • English
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