Tag

Business Cycles

2 cards

Labour & employmentRCT
Dual-Market Screening Frictions
Treatment effects on permanent contract vacancies (+0.031 in below-median vs +0.038 in above-median, p = 0.550) and permanent contract jobseeker hires (+0.056 in below-median vs +0.038 in above-median, p = 0.711) showed no statistically significant difference between slack and tight markets.
Economics (general)RCT
Macroeconomic Search Model Calibration Wedge
Directly measured opportunity cost yields $z = 0.72$ under monopsonistic labor market assumptions and $z = 0.87$ under Diamond-Mortensen-Pissarides assumptions, providing empirical validation for intermediate-to-high volatility calibrations while rejecting negative $z$ wage dispersion models.