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A Peer-reviewed scientific articles/A1 Journal article (refereed), original research
      
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The Sensitivity of Job Destruction to Vintage and Tenure Effects, Scandinavian Journal of Economics 4; October (2014). Vanhala, Juuso; Kilponen, Juha


Category A Peer-reviewed scientific articles
Sub-category A1 Journal article (refereed), original research
auki Internal authors
All authors as text Vanhala, Juuso; Kilponen, Juha 
Number of authors
Status Published
Year of publication 2014 
Date 03.10.2014 
Name of article The Sensitivity of Job Destruction to Vintage and Tenure Effects 
Name of journal Scandinavian Journal of Economics
Volume of issue 116 
Number of issue 4; October 
Pages 1068–1090 
Abstract Matching models with endogenous job destruction typically deliver excessively volatile job destruction and moderate volatility of vacancies. In our model, vintage and tenure effects promote the creation of new matches that are temporarily more productive, while reducing the survival of temporarily less productive matches. This cleansing effect produces a counter‐cyclical inflow into unemployment, removes the strong response of job destruction to productivity shocks, and generates a downward‐sloping Beveridge curve, as in the data. The model also generates more volatility in vacancies, the job‐finding rate, and labor‐market tightness.
Free text descriptor in English Beveridge curve, cleansing effect, embodied technical change, matching, productivity shocks 
JEL-codes E24;E32;J64 
ISSN / e-ISSN 0347-0520 
auki Internet addresses
Notes BoF DP 15/2009 


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