The aim of the project was to develop a novel mathematical method that will facilitate the introduction of heterogeneity of economic agents into otherwise standard macroeconomic general equilibrium models. The method was rather flexible and it was possible to use it to study a wide array of problems, ranging from changes in income inequality in the business cycle to the role of liquidity contraints in the financial sectore in the propagation of recessions. In the context of the project, we developed a heterogeneous firm model with on-the-job search and financial frictions which will be used to analyze labour market flows. This project has received funding from the National Science Centre under decision no DEC-2011/03/B/HS4/05895
- main investigator:
- Marek Antosiewicz
- main investigator:
- Jacek Suda
- project lead:
- Marek Góra
- Contact:
-
marek.antosiewicz@ibs.org.pl
news
On November 16, the Institute for Structural Research organized a workshop entitled "New developments in labour markets".
Publications
2016-05-20
Business cycles and on the job search
We study steady state and business cycle properties of a model with heterogeneous firms and on-the-job search in the spirit of Moscarini and Postel-Vinay (2012). We extend the setup by including capital in the production function and show how this change influences model properties. The ...
2016-05-19
On the job search and working capital
We study the steady-state effects of working capital channel on the distribution of wages and reallocation of workers across employers. We first show that in a simple Burdett-Mortensen on-the-job search model, working capital channel matter for wage offers distributions of firms and wage distribution of ...
persons from IBS
