Mortensen, Dale

Wage dispersion why are similar workers paid differently by Dale Mortensen ( Book )
6 editions published between 2003 and 2005 in English and held by 902 libraries worldwide

Job matching, wage dispersion, and unemployment by Dale Mortensen ( Book )
3 editions published in 2011 in English and Undetermined and held by 123 libraries worldwide

More on unemployment and vacancy fluctuations by Dale Mortensen ( Book )
2 editions published in 2005 in English and held by 53 libraries worldwide
"Shimer (2005a) argues that the Mortensen-Pissarides equilibrium search model of unemployment explains only about 10% of the response in the job-finding rate to an aggregate productivity shock. Some of the recent papers inspired by his critique are reviewed and commented on here. Specifically, we suggest that the sole problem is neither the procyclicality of the wage nor the failure to account fully for the opportunity cost of employment. Although an amended version of the model, one that accounts for capital costs and counter cyclic involuntary separations, does much better, it still explains only 40% of the observed volatility of the job-finding rate. Finally, allowing for on-the-job search does not improve the amended models implications for the amplification of productivity shocks"--National Bureau of Economic Research web site.

Island matching by Dale Mortensen ( Book )
2 editions published in 2007 in English and held by 37 libraries worldwide
A synthesis of the Lucas-Prescott island model and the Mortensen- Pissarides matching model of unemployment is studied. By assumption, all unmatched workers and jobs are randomly assigned to islands at the beginning of each period and the number of matches that form on a particular island is the minimum of the two realizations. When calibrated to the recently observed averages of U.S. unemployment and vacancy rates, the model fits the observed vacancy-unemployment Beveridge relationship very well and implies an implicit log linear relationship between the job finding rate and the vacancy-unemployment relationship with an elasticity near 0.5. The constrained efficient solution to the model is decentralized by a equilibrium outcome in which wages on each island are determined by a modified auction. Although the efficient solution explains only about 25% of the observed volatility in the U.S. vacancy-unemployment ratio, an equilibrium outcome in which wages are determined as the solution to a strategic bargaining game explains almost all of it.

An empirical model of growth through product innovation by Rasmus Lentz ( Book )
2 editions published in 2005 in English and held by 30 libraries worldwide
"Productivity dispersion across firms is large and persistent, and worker reallocation among firms is an important source of productivity growth. The purpose of the paper is to estimate the structure of an equilibrium model of growth through innovation that explains these facts. The model is a modified version of the Schumpeterian theory of firm evolution and growth developed by Klette and Kortum (2004). The data set is a panel of Danish firms than includes information on value added, employment, and wages. The model's fit is good and the structural parameter estimates have interesting implications for the aggregate growth rate and the contribution of worker reallocation to it"--Forschungsinstitut zur Zukunft der Arbeit web site.

Wage dispersion in the search and matching model with intra-firm bargaining by Dale Mortensen ( Book )
2 editions published in 2009 in English and held by 18 libraries worldwide
Matched employer-employee data exhibits both wage and productivity dispersion across firms and suggest that a linear relationship holds between the average wage paid and a firm productivity. The purpose of this paper is to demonstrate that these facts can be explained by a search and matching model when firms are heterogenous with respect to productivity, are composed of many workers, and face diminishing returns to labor given the wage paid to identical workers is the solution to the Stole-Zwiebel bilateral bargaining problem. Helpman and Iskhoki (2008) show that a unique single wage (degenerate) equilibrium solution to the model exists in this environment. In this paper, I demonstrate that another equilibrium exists that can be characterized by a non-degenerate distribution of wages in which more productive firms pay more if employed workers are able to search. Generically this dispersed wage equilibrium is unique and exists if and only if firms are heterogenous with respect to factor productivity. Finally, employment is lower in the dispersed wage equilibrium than in the single wage equilibrium but this fact does not imply that welfare is higher in the single wage equilibrium.

Job reallocation, employment fluctuations and unemployment by Dale Mortensen ( Book )
4 editions published in 1999 in English and held by 15 libraries worldwide

Equilibrium wage and employment dynamics in a model of wage posting without commitment by Melvyn Glyn Coles ( Book )
1 edition published in 2011 in English and held by 12 libraries worldwide
A rich but tractable variant of the Burdett-Mortensen model of wage setting behavior is formulated and a dynamic market equilibrium solution to the model is defined and characterized. In the model, firms cannot commit to wage contracts. Instead, the Markov perfect equilibrium to the wage setting game, characterized by Coles (2001), is assumed. In addition, firm recruiting decisions, firm entry and exit, and transitory firm productivity shocks are incorporated into the model. Given that the cost of recruiting workers is proportional to firm employment, we establish the existence of an equilibrium solution to the model in which wages are not contingent on firm size but more productive employers always pay higher wages. Although the state space, the distribution of workers over firms, is large in the general case, it reduces to a scalar that can be interpreted as the unemployment rate in the special case of homogenous firms. Furthermore, the equilibrium is unique. As the dimension of the state space is equal to the number of firms types in general, an (approximate) equilibrium is computable.

Job creation and job destruction in the theory of unemployment by Dale Mortensen ( Book )
2 editions published in 1993 in English and held by 12 libraries worldwide

Technological progress, job creation and job destruction by D. T Mortensen ( Book )
2 editions published in 1995 in English and held by 10 libraries worldwide