Journal Article

A Competitive Theory of Employment Dynamics

Randall Gouge and Ian King

in The Review of Economic Studies

Published on behalf of Review of Economic Studies Ltd

Volume 64, issue 1, pages 1-122
Published in print January 1997 | ISSN: 0034-6527
Published online January 1997 | e-ISSN: 1467-937X | DOI: https://dx.doi.org/10.2307/2971738
A Competitive Theory of Employment Dynamics

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We develop a model of search and unemployment in an economy consisting of a large number of spatially separated local competitive labour markets and aggregate uncertainty. If aggregate shocks are positively autocorrelated, the implied cyclical behaviour of the aggregate variables match those of empirical studies: worker movement and job creation are procyclical while total unemployment, job destruction and job reallocation are countercyclical.

Journal Article.  0 words. 

Subjects: Economics

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