Journal article
In search of labor demand
- Abstract:
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We propose and estimate a novel specification of labor demand which encompasses search frictions and the role of entrepreneurs in new firm creation. Using city-industry variation over four decades, we estimate the wage elasticity of employment demand to be close to -1 at the industry-city level and -0.3 at the city level. We argue that the difference between these estimates reflects the congestion externalities predicted by the search literature. Our estimates also indicate that entrepreneurs...
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- Publication status:
- Published
- Peer review status:
- Peer reviewed
- Version:
- Accepted Manuscript
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- Files:
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(pdf, 719.5KB)
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- Publisher copy:
- 10.1257/aer.20141374
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Authors
Bibliographic Details
- Publisher:
- American Economic Association Publisher's website
- Journal:
- American Economic Review Journal website
- Volume:
- 108
- Issue:
- 9
- Pages:
- 2714-2757
- Publication date:
- 2018-08-31
- Acceptance date:
- 2018-01-30
- DOI:
- ISSN:
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0002-8282
- Pubs id:
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pubs:822140
- URN:
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uri:8ad5a06a-9279-4d47-9b9c-e9e591107007
- UUID:
-
uuid:8ad5a06a-9279-4d47-9b9c-e9e591107007
- Local pid:
- pubs:822140
Terms of use
- Copyright holder:
- American Economic Association
- Copyright date:
- 2018
- Notes:
-
Copyright © 2018 AEA. This is the accepted manuscript version of the article. The final version is available online from American Economic Association at: https://doi.org/10.1257/aer.20141374
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