Collaborative Research on Estimating Equilibrium Search       Models
{'Code': '04050100', 'Directorate': {'Abbreviation': 'SBE', 'LongName': 'Direct For Social, Behav & Economic Scie'}, 'Division': {'Abbreviation': 'SES', 'LongName': 'Divn Of Social and Economic Sciences'}}
{'SignBlockName': 'Daniel H. Newlon', 'PO_EMAI': None, 'PO_PHON': None}
During the past decade a substantial effort has been devoted to                 estimating labor market models of job search.  These are important              models in that their estimation, especially using panel data, can               yield relevant predictions about the effects of various government              policies on the unemployment rate and on wages.                                                                                                                 Several approaches have been taken to model the search for work.  Most          of the models set the job searcher in the framework of a price taker,           that is the distributions of wages across jobs is given, and the                person searches for a position which meets at least the minimum wage            rate required to entice him into the labor force.  This type of model           has been criticized on the grounds that the wage distribution might             not be stable over even very short periods of time, and more recent             analyses have tried to incorporate a changing wage distribution by              using models of partial equilibrium in the labor market.                                                                                                        This project uses a partial equilibrium framework in which individuals          search in a market where productivity varies from firm to firm.  The            workers themselves are heterogeneous with respect to their desires for          employment versus leisure time.   The wage distribution is not assumed          to be stable independent of the workers, but to change in response to           differences among workers' desire for leisure and in response to                productivity differences among firms.  The model is estimated using             data from the National Longitudinal Surveys of Labor Market Experience          of Youth in which the data follow several cohorts of high school                graduates from the time they graduate until the time they accept their          first full-time job.  The estimates can be used to test the effects of          minimum wages and unemployment compensation on the unemployment rate,           and also for testing for labor market segmentation and discrimination,          and to give these sometimes loosely defined concepts more rigor.                                                                                                This project is done in collaboration with Kenneth Wolpin of Ohio               State University.
{'FirstName': 'Zvi', 'LastName': 'Eckstein', 'PI_MID_INIT': None, 'PI_SUFX_NAME': None, 'PI_FULL_NAME': 'Zvi Eckstein', 'EmailAddress': 'eckstein@econ.umn.edu', 'NSF_ID': '000382455', 'StartDate': '07/15/1987', 'EndDate': None, 'RoleCode': 'Principal Investigator'}
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{'Code': '1320', 'Text': 'Economics'}
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