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29 mars 2019
- handle: 10670/1.nrhzso
- halshs: halshs-02083453
info:eu-repo/semantics/OpenAccess
Mots-clés
Directed search Mismatch Efficiency Layoff tax J - Labor and Demographic Economics/J.J6 - Mobility, Unemployment, Vacancies, and Immigrant Workers D - Microeconomics/D.D8 - Information, Knowledge, and UncertaintySujets proches
Labor and laboring classes Market, Labor Supply and demand for labor Employees--Supply and demand Wages--Minimum wage Minimum wages Joblessness Professional services Jobs Careers Career patterns Planning in politics Public policy Papers Jobs Careers Trades Career patterns Mobility Internal migration Private enterprise Markets, Free Laissez-faire Free markets Funds Funding Pattern Model Businesses Firms Companies Enterprises Business organizations Organizations, Business Alien labor Migrant workers (Foreign workers) Immigrant workers Migrant labor (Foreign workers) Guestworkers Guest workers Foreign labor Immigrant labor Aliens--Employment Finance, commerce, confiscations, etcCiter ce document
Frédéric Gavrel, « Directed search, mismatch and efficiency », HAL-SHS : économie et finance, ID : 10670/1.nrhzso
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Résumé
This short paper provides a directed search model of the labor market in which the persistency of vacant jobs results from a mismatch problem, not from a pure coordination problem. Since firms cannot commit to an output cutoff lower than the posted wage, laissez-faire is inefficient. But, under a binding condition, public policy can restore market efficiency by associating a minimum wage with a layoff tax.