Zweigstelle	Standorte	Status	Vorbestellungen	Frist	Barcode
Zweigstelle: HdBA Mannheim	Standorte: W 3849 a engl.	Status: Verfügbar	Vorbestellungen: 0	Frist:	Barcode: 142694

This paper presents a theory explaining the labor market matching process through

microeconomic incentives. There are heterogeneous variations in the characteristics of

workers and jobs, and firms face adjustment costs in responding to these variations. Matches

and separations are described through firms' job offer and firing decisions and workers' job

acceptance and quit decisions. This approach obviates the need for a matching function. On

this theoretical basis, we argue that the matching function is vulnerable to the Lucas critique.

Our calibrated model for the U.S. economy can account for important empirical regularities

that the conventional matching model cannot (Quelle: iza)