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14:00 | Macro Research Seminar
The University of Edinburgh, United Kingdom
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Authors: Carlos Carrillo-Tudela and Ludo Visschers
Abstract: This paper studies unemployed workers’ decisions to change occupations, and their impact on fluctuations in aggregate unemployment and its underlying duration distribution. We develop an analytically and computationally tractable stochastic equilibrium model with het- erogenous labor markets. In this model three different types of unemployment arise: search, rest and reallocation unemployment. We document new evidence on unemployed workers’ gross occupational mobility and use it to calibrate the model. We show that rest unemployment is the main driver of unemployment fluctuations over the business cycle and causes cyclical unemployment to be highly volatile. The resulting unemployment duration distribution generated by the model responds realistically to the business cycle, creating substantial longer-term unemployment in downturns. Finally, rest unemployment also makes our model simultaneously consistent with procyclical occupational mobility of the unemployed, countercyclical job separations into unemployment and a negatively-sloped Beveridge curve.
Keywords: Unemployment, Business Cycle, Rest, Search, Occupational Mobility.
JEL: E24, E30, J62, J63, J64.
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Full Text: “Unemployment and Endogenous Reallocation over the Business Cycle”
17:00 | Economics Discovery Hub
Social Preferences and How to Measure Them Using Economic Experiments
Date: Thursday, 15 November 2018
Time: 17:00-20:00
Duration: 180 minutes
Course instructor: Jana Cahlíková
This workshop is part of the Experimental Economics series.
Registration for this workshop is open.
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Content:
In textbook economics people are often modeled as rational and self-interested agents (“homo economicus”). Behavioral economics, on the other hand, has largely focused on bounded rationality and social preferences, modeling and showing in experiments that people are altruistic, inequality-averse, have concerns for fairness, show reciprocity, envy and concerns for relative status.
In this workshop, Jana Cahlíková will introduce basic types of pro-social and anti-social preferences, with the focus on how to measure those using games and tools from experimental economics. You will try some of the experiments first-hand. The workshop will also cover experimental evidence regarding the development of social preferences with age and their variation across societies and Jana will talk about her research on how peers influence antisocial behavior.
Prerequisites:
- Please bring your laptop or smartphone – we will try some of the experiments online
About the facilitator:
Jana Cahlíková
Jana Cahlíková has a PhD in Economics from CERGE-EI. Since 2015 she has been a Senior Research Fellow at the Max Planck Institute for Tax Law and Public Finance in Munich, Germany. Her doctoral and postdoctoral research lies in the field of behavioral and experimental economic, studying topics such as discrimination, inter-group conflict and behavior under stress. She has conducted a number of lab and lab-in-the-field experiments in the Czech Republic, Slovakia and Uganda. You can visit her personal website at janacahlikova.net.
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