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UID:event-12080@www.amse-aixmarseille.fr
DTSTAMP:20260421T200509Z
CREATED:20260421T200509Z
LAST-MODIFIED:20260421T200509Z
STATUS:CONFIRMED
SEQUENCE:0
SUMMARY:Macro and labor market seminar - Cristina Lafuente
DTSTART:20250321T113000Z
DTEND:20250321T123000Z
DESCRIPTION:This paper argues that search ability should be considered a di
 stinct type of human capital. Workers are endowed with a search ability tha
 t determines their effectiveness of search\, or their intrinsic job arrival
  rate. Workers build up their job search capital by interacting with the la
 bour market\, finding and moving on to different jobs. Long\, stable employ
 ment spells without search erode their search capital over time. This chann
 el has notable implications for modelling and policy in all labour markets\
 , but it is particularly relevant in dual labour markets. In the presence o
 f large\, persistent negative shocks like the Great Recession\, the inabili
 ty of young workers to accumulate search capital can explain why they suffe
 r larger increases in unemployment and long-term unemployment\, something t
 raditional hysteresis models struggle to explain. Using administrative data
 \, I show that search capital\, as proxied by the number of jobs a worker h
 as had\, is negatively correlated with unemployment duration. I build a het
 erogeneous agent search model with both productive and search human capital
  to show the effect that dynamic search capital has on workers' lifetime ut
 ility. The calibrated model shows that despite the protective effects of ac
 cumulating search capital against aggregate shocks\, the cost in terms of u
 ncertainty outweighs the benefits. The model favours active labour market p
 olicies over employment incentives to tackle long-term unemployment among y
 oung workers.\\n\\nContact: Marco Fongoni: marco.fongoni[at]univ-amu.frAlex
 andros Loukas: alexandros.loukas[at]univ-amu.fr\n\nPlus d'informations: htt
 ps://www.amse-aixmarseille.fr/en/events/cristina-lafuente-0
LOCATION:MEGA - Salle Carine Nourry\, 424\, Chemin du Viaduc\, 13080 Aix-en
 -Provence
URL;VALUE=URI:https://www.amse-aixmarseille.fr/en/events/cristina-lafuente-0
CONTACT:Marco Fongoni: marco.fongoni[at]univ-amu.frAlexandros Loukas: alexa
 ndros.loukas[at]univ-amu.fr
TRANSP:OPAQUE
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