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Returns to on-the-job search and wage dispersion

Axel Gottfries, Coen Teulings

Labour Economics 80 (2023) 102292, ISSN 0927-5371

https://doi.org/10.1016/j.labeco.2022.102292

Abstract

A wide class of models with On-the-Job Search (OJS) predict that workers gradually select into better jobs. We develop a simple method based on the expected number of job offers received that can be used to measure match quality, identify the wage offer distribution and estimate the contribution of OJS to wage dispersion and the increase in wages over the lifecycle. The method uses two sources of identification: (i) time variation in job- finding rates and (ii) individual variation in the time since the last layoff. Applying this method to the NLSY 79, we find that the standard deviation of the wage-offer distribution is 13% and that OJS accounts for 8% of the total wage dispersion and 30% of the wage-increase over the lifecycle.

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The state of economics after the Lehman collapse

Review of
Basu, K., D. Rosenblatt, and C. Sepúlveda (eds.),2020. The State of Economics, the State of the World. Cambridge, MA, MIT Press. 552 pages. ISBN: 978-0-262-03999-4.
Forthcoming in The Journal of Regional Science

Review-State-of-economics

School-closure is counterproductive and self-defeating

Coen N. Teulings, Covid Economics, Issue 69, 18 February 2021, CEPR Press (pp 166-175)

Multigroup SIR model covid-19

Appendix to ‘School-closure is counterproductive and self-defeating’

Spatial and welfare effects of automated driving: Will cities grow, decline or both?

George Gelauff, Ioulia Ossokina, Coen Teulings

Transportation Research Part A: Policy and Practice, Volume 121, March 2019, Pages 277-294

Article

Land use, worker heterogeneity and welfare benefits of public goods

Teulings C.N. I.V. Ossokina, H.L.F. de Groot, Land use, worker heterogeneity and welfare benefits of public goods, Journal of Urban Economics (forthcoming), version October 15, 2017

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Wages, search frictions & sorting

Keynote speech Leed conference, Coimbra, July 14, 2017

Keynote speech

Endogenous growth and lack of recovery from the global crisis

de Ridder M., C.N. Teulings, endogenous growth and lack of recovery from the global crisis, VOX CEPR’s Policy Portal, July 13, 2017

Article

Article on Wall Street Journal

The urban economics of retail

Teulings C.N., I.V. Ossokina, J. Svitak, The Urban economics of retail, CPB Discussion Paper/352, June 1, 2017

Discussion paper

Secular stagnation, bubbles, fiscal policy, and the introduction of the pill

Lu J.Z., C.N. Teulings, Secular stagnation, bubbles, fiscal policy, and the introduction of the pill, CEPR Policy insight no. 86

Article

Are bubbles Bad?

Teulings C.N, Are Bubbles Bad? Is a higher debt target for the Euro-zone desirable? Paper for the CES Ifo Conference in Venice, March 2016

Paper

Can demography explain secular stagnation?

Gottfries A., C.N. Teulings (2015), Can demography explain secular stagnation?, VOX, January 30.
Article

Welfare Benefits of Agglomeration and Worker Heterogeneity

Teulings, C.N., I. Ossokina & H. de Groot, Welfare Benefits of Agglomeration and Worker Heterogeneity, Centraal Planbureau, Den Haag.

Publication

Unemployment and house price crises: Lessons for fiscal policy from the Dutch recession

Teulings C.N., Unemployment and house price crisis: Lessons for fiscal policy from the Dutch recession, IZA Journal of European Labor Studies.2014, 3:20

Article

Sorting and the output loss due to search frictions

Gautier P.A., C.N. Teulings, Sorting and the output loss due to search frictions, vol. 13(6), p. 1136-1166.
Article

Returns to tenure or seniority

Buhai, I.S., M.A. Portela, C.N. Teulings & A. van Vuuren (2013), Returns to tenure or seniority. Econometrica, 82(2), p. 705-730.

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Working paper version of this paper with the full theoretical model

Collective versus decentralized wage bargaining and the efficient allocation of resources

Cai, X., P.A. Gautier, C.N. Teulings & M. Watanabe (2014), Collective versus decentralized wage bargaining and the efficient allocation of resources, Labour, vol.26, p.34-42.

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Tenure profiles and efficient separation in a stochastic productivity model

Buhai, I.S., C.N. Teulings, (2013), Tenure Profiles and Efficient Separation in a Stochastic Productivity Model, Journal of Business and Economics Statistics, vol. 32(2), p. 245-258.

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Is economic recovery a myth?

Teulings, C.N. & N. Zubanov (2013), Is Economic Recovery a Myth? Robust Estimation of Impulse Responses, Journal of Applied Econometrics.

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How to share our risks efficiently?

Teulings, C.N. (2010), How to share our risks efficiently? Principles for optimal social insurance and pension provision, De Economist, vol. 158(1), p 1-21.

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Measurement error in education and growth regressions

Portela, M., R.J.M. Alessie & C.N. Teulings (2010), Measurement Error in Education and Growth Regressions, The Scandinavian Journal of Economics, vol.112(3), p. 618-639.

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On-the-job search, mismatch and efficiency

Gautier, P.A., C.N. Teulings & A. van Vuuren (2010), On-the-Job Search, Mismatch and Efficiency, Review of Economic Studies, vol. 77(1), p. 245-272.

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Marriage and the city: search frictions and sorting of singles

Gautier, P.A., M. Svarer & C.N. Teulings (2010), Marriage and the city: Search frictions and sorting of singles, Journal of Urban Economics, vol. 67(2), p. 206-218.

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Sin City? Why is the Divorce Rate Higher in Urban Areas?

Gautier, P.A., M. Svarer & C.N. Teulings (2009), Sin City? Why is the Divorce Rate Higher in Urban Areas?, Scandinavian Journal of Economics, vol. 111(3), p. 439-456.

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Search and the city

Gautier, P.A. & C.N. Teulings (2009), Search and the city, Regional Science and Urban Economics, Elsevier, vol. 39(3), p. 251-265.

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Rhineland exit?

Bovenberg, L.A. & C.N. Teulings (2009), Rhineland exit? International Tax and Public Finance, vol. 16(5), p. 710-726.

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Education, growth, and income inequality

Teulings, C.N. & T. van Rens (2008), Education, Growth, and Income Inequality, The Review of Economics and Statistics, vol. 90(1), p. 89-104.

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Saving and investing over the life cycle and the role of collective pension funds

Bovenberg, L.A., R. Koijen, T. Nijman & C.N. Teulings (2007), Saving and Investing Over the Life Cycle and the Role of Collective Pension Funds, De Economist, vol. 155(4), p. 347-415.

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How large are search frictions?

Gautier, P.A. & C.N. Teulings (2006), How large are search frictions? Journal of the European Economic Association, vol. 4(6), p. 1193-1225.

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General accounting, solidarity and pension losses

Teulings, C.N. & C. G. de Vries (2006), General accounting, solidarity and pension losses, De Economist, vol. 154 (1), p. 63-83.

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Comparative advantage, relative wages, and the accumulation of human capital

Teulings, C.N. (2005), Comparative advantage, relative wages, and the accumulation of human capital, Journal of Political Economy, vol. 113(2), p. 425-461.

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Should higher education subsidies depend on parental income?

Dur, R., C.N. Teulings & T. van Rens (2004), Should higher education subsidies depend on parental income?, Oxford Review of Economic Policy, vol. 20(2), p. 284-297.

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The right man for the job

Teulings, C.N. & P.A. Gautier (2004), The right man for the job, Review of Economic Studies, vol. 71(247), p. 553-580.

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Urban versus rural return to human capital in Portugal

Teulings, C.N. & J.A.C. Vieira (2004), Urban versus rural return to human capital in Portugal: a cook-book recipe for applying assignment models, Labour: Review of Labour Economics and Industrial Relations, vol. 18(2), p. 265-291.

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An empirical measure for labor market density

Teulings, C.N. & P.A. Gautier (2004), An empirical measure for labor market density, Review of Economics and Statistics, vol. 85(4), p. 901-908.

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The contribution of minimum wages to increasing wage inequality

Teulings, C.N. (2003), The contribution of minimum wages to increasing wage inequality, Economic Journal, vol. 113(490), p. 801-833.

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Wages and the bargaining regime in a corporatist setting: the Netherlands

Hartog, J,  E. Leuven, & C.N. Teulings (2002), Wages and the bargaining regime in a corporatist setting: the Netherlands,  European Journal of Political Economy, vol. 18(2), p. 317-331.

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Aggregation bias in elasticity’s of substitution and the minimum wage paradox

Teulings, C.N. (2000), Aggregation bias in elasticity’s of substitution and the minimum wage paradox, International Economic Review, vol. 41(2), p. 359-398.

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Labour supply, the natural rate, and the welfare state in the Netherlands

Broersma, L., J. Koeman & C.N. Teulings (2000), Labour supply, the natural rate, and the welfare state in the Netherlands: the wrong institutions at the wrong point in time, Oxford Economic Papers, vol. 52(1), p. 96-118.

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Bridging the gap between ‘Joe Sixpack’ and ‘Bill Gates’: on the efficiency of institutions for redistribution

Teulings, C.N. (2000), Bridging the gap between ‘Joe Sixpack’ and ‘Bill Gates’: on the efficiency of institutions for redistribution, De Economist, vol. 148(5), p. 603-624.

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A new theory of corporatism and wage setting

Teulings, C.N. (1997), A new theory of corporatism and wage setting, European Economic Review, papers & proceedings, vol. 41(3-5), p. 659-669.

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Inter-industry wage differentials and tenure effect in the Netherlands and the US

Hartog, J., R. van Opstal & C.N. Teulings (1997), Inter-industry wage differentials and tenure effect in the Netherlands and the US, De Economist, vol. 145(1), p. 91-99

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The economic impact of minimum wages in Europe

Dolado, J., F. Kramarz, S. Machin, A. Manning, D. Margolis, C.N. Teulings, G. Saint Paul  &  M. Keen (1996), The economic impact of minimum wages in Europe, Economic Policy: a European forum, vol. 23, p. 319-372.

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The wage distribution in a model of the assignment of skills to jobs

Teulings, C.N.  (1995), The Wage Distribution in a Model of the Assignment of Skills to Jobs, Journal of Political Economy, vol. 103(2), p. 280-315.

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The diverging effects of the business cycle on the expected duration of job-search

Teulings, C.N. (1993), The Diverging Effects of the Business Cycle on the Expected Duration of Job-Search, Oxford Economic Papers, vol. 45(3), p. 482-500.

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An econometric model of crowding out of lower education levels

Teulings, C.N. & M. Koopmanschap (1989), An econometric model of crowding out of lower education levels, European Economic Review, vol. 33 (8), p. 1653-1664.

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