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BEGIN:VEVENT
UID:8688a5a6915b68b619f56e64e2a9e428
CATEGORIES:Seminars
CREATED:20170418T182108
SUMMARY:Lunch Seminar: Fernando Alvarez - University of Chicago
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:<p style="text-align: justify;"><strong>Decomposing Duration Dependence in 
 a Stopping Time Model</strong> (with K. Borovicokova and R. Shimer)</p><p s
 tyle="text-align: justify;">Abstract:<br /> We develop a dynamic model of t
 ransitions in and out of employment. A worker finds a job at an optimal sto
 pping time, when a Brownian motion with drift hits a barrier. This implies 
 that the duration of each worker’s jobless spells has an inverse Gaussian d
 istribution. We allow for arbitrary heterogeneity across workers in the par
 ameters of this distribution and prove that the distribution of these param
 eters is identified from the duration of two spells. We use social security
  data for Austrian workers to estimate the model. We conclude that dynamic 
 selection is a critical source of duration dependence.</p>
DTSTAMP:20260406T181217Z
DTSTART:20160711T130000Z
DTEND:20160711T140000Z
SEQUENCE:0
TRANSP:OPAQUE
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