Opening the Black Box of the Matching Function: the Power of Words

Mapping Intimacies ◽

10.3386/w22508 ◽

2016 ◽

Cited By ~ 14

Author(s):

Ioana Marinescu ◽

Ronald Wolthoff

Keyword(s):

Black Box ◽

Matching Function ◽

Power Of Words

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Opening the Black Box of the Matching Function: The Power of Words

Journal of Labor Economics ◽

10.1086/705903 ◽

2020 ◽

Vol 38 (2) ◽

pp. 535-568 ◽

Cited By ~ 8

Author(s):

Ioana Marinescu ◽

Ronald Wolthoff

Keyword(s):

Black Box ◽

Matching Function ◽

Power Of Words

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Opening the Black Box of the Matching Function: The Power of Words

SSRN Electronic Journal ◽

10.2139/ssrn.2612323 ◽

2015 ◽

Author(s):

Ioana Elena Marinescu ◽

Ronald P. Wolthoff

Keyword(s):

Black Box ◽

Matching Function ◽

Power Of Words

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Looking into the Black Box: A Survey of the Matching Function

Journal of Economic Literature ◽

10.1257/jel.39.2.390 ◽

2001 ◽

Vol 39 (2) ◽

pp. 390-431 ◽

Cited By ~ 980

Author(s):

Barbara Petrongolo ◽

Christopher A Pissarides

Keyword(s):

Empirical Evidence ◽

Recent Work ◽

Job Search ◽

Black Box ◽

Spatial Aggregation ◽

Future Research ◽

Matching Function ◽

Stocks And Flows ◽

Disaggregated Data

This paper surveys the microfoundations, empirical evidence, and estimation issues underlying the aggregate matching function. There is no consensus yet on microfoundations but one is emerging on estimation. An aggregate, constant returns, Cobb-Douglas matching function with hires as a function of vacancies and unemployment has been successfully estimated for several countries. Recent work has utilized disaggregated data to go beyond aggregate estimates, with many refinements and suggestions for future research. The paper discusses spatial aggregation issues, and implications of on-the-job search and of the timing of stocks and flows for estimated matching functions.

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