Abstract

http://ssrn.com/abstract=2012203
 


 



Search Capital


Carlos Carrillo-Tudela


University of Leicester; Institute for the Study of Labor (IZA)

Eric Smith


University of Essex - Department of Economics

February 28, 2012

CESifo Working Paper Series No. 3741

Abstract:     
We construct a simple equilibrium search model in which workers accumulate information about previously met employment contacts. We term the latter search capital. Here search capital (partially) insures workers against adverse shocks. The model provides a theory of job-to-job transitions that are associated with voluntary or involuntary mobility and with wage rises or wage cuts. It also shows why low wage and younger workers are associated with a higher probability of becoming unemployed.

Number of Pages in PDF File: 8

Keywords: search capital, turnover, wage cuts

JEL Classification: J620, J630, J640

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Date posted: February 29, 2012  

Suggested Citation

Carrillo-Tudela, Carlos and Smith, Eric, Search Capital (February 28, 2012). CESifo Working Paper Series No. 3741. Available at SSRN: http://ssrn.com/abstract=2012203

Contact Information

Carlos Carrillo-Tudela (Contact Author)
University of Leicester ( email )
University Road
Leicester, LE1 7RH
United Kingdom
Institute for the Study of Labor (IZA)
P.O. Box 7240
Bonn, D-53072
Germany
Eric Smith
University of Essex - Department of Economics ( email )
Wivenhoe Park
Colchester CO4 3SQ
United Kingdom
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