ESEMO

Estimation of General Equilibrium Labor Market Search Models

Coordinatore	Istituto Einaudi per l'Economia e la Finanza    more Spiacenti, non ci sono informazioni su questo coordinatore. Contattare Fabio per maggiori infomrazioni, grazie.
Nazionalità Coordinatore	Italy [IT]
Totale costo	1˙659˙169 €
EC contributo	1˙659˙169 €
Programma	FP7-IDEAS-ERC Specific programme: "Ideas" implementing the Seventh Framework Programme of the European Community for research, technological development and demonstration activities (2007 to 2013)
Code Call	ERC-2011-ADG_20110406
Funding Scheme	ERC-AG
Anno di inizio	2012
Periodo (anno-mese-giorno)	2012-03-01   -   2017-02-28

 Partecipanti

#	participant	country	role	EC contrib. [€]
1	FUNDACION CENTRO DE ESTUDIOS MONETARIOS Y FINANCIEROS  Organization address address: CASADO DEL ALISAL 5 city: MADRID postcode: 28014 contact info Titolo: Ms. Nome: Gema Cognome: Salazar Email: send email Telefono: +34 914290551 Fax: +34 914291056	ES (MADRID)	beneficiary	625˙397.30
2	Istituto Einaudi per l'Economia e la Finanza  Organization address address: via sallustiana 62 city: ROMA postcode: 187 contact info Titolo: Mr. Nome: Marco Cognome: Pagano Email: send email Telefono: 390648000000	IT (ROMA)	hostInstitution	1˙033˙771.70
3	Istituto Einaudi per l'Economia e la Finanza  Organization address address: via sallustiana 62 city: ROMA postcode: 187 contact info Titolo: Prof. Nome: Claudio Cognome: Michelacci Email: send email Telefono: +39 06 6790013 Fax: +39 06 47924872	IT (ROMA)	hostInstitution	1˙033˙771.70

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 Obiettivo del progetto (Objective)

'My proposal deals with the estimation of Dynamic Stochastic General Equilibrium models with important heterogeneity at the level of firms and households and frictions in the labor market. In the estimation I will exploit mixed frequency data (monthly, quarterly and annual) available in different countries. I will also efficiently take care of possible missing values in the data. This might require developing new estimation techniques. The contribution of the project will be in dealing with important empirically relevant questions. I will address issues that lie at the boundaries between labour economics, business cycle analysis, monetary economics, finance, and growth. In particular I will answer the following questions:

1. How are business cycle costs distributed across different individuals? How costly is involuntary unemployment? 2. Which view best characterizes the process of technology adoption at business cycle frequencies? In particular does Schumpeterian creative destruction play a role in characterizing the adoption of new technologies over the business cycle? 3. What are the welfare costs of the search inefficiencies present in the process of worker reallocation over the business cycle? 4. What are the sources of business cycle fluctuations? And in particular are technology shocks an important driving force? 5. What are the contribution of the job separation rate and the importance of the intensive margin relative to the extensive margin in characterizing aggregate labor market fluctuations? 6. What are the main differences in the cyclical properties of the labor market across the OECD? And which institutions explain these differences? 7. What are the effects of financial sector shocks? And why has the Beveridge curve shifted during the last world wide recession? 8. How policy should respond to the large variation in unemployment risk that individual workers face over their life cycle?'