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BEGIN:VEVENT
UID:02d48a3ff721b3bc25a2ebc5b1fef5ae
CATEGORIES:Seminars
CREATED:20161216T175603
SUMMARY:Lunch Seminar: Jean Flemming - University of Rome “Tor Vergata”
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Skill Accumulation in the Market and at Home\nAbstract:\nThis paper incorpo
 rates learning by doing in home and market production into a stochastic dir
 ected search model. Workers’ labor supply choices affect skill accumulation
  in both the home and market sectors, making the distributions of workers a
 cross employment states endogenous and persistent state variables. The opti
 mal search behavior by an unemployed worker implies that the job finding pr
 obability is much more sensitive than the reemployment wage to the duration
  of unemployment, two facts which have been documented empirically. The mod
 el is calibrated to US data, and implies a nontrivial role for true duratio
 n dependence in the decline of the job finding probability. The model frame
 work can easily accommodate business cycles, and the mechanism predicts tha
 t the optimal response of agents’ decisions after an aggregate shock genera
 tes an asymmetric response of the unemployment rate during and after recess
 ions, with more severe recessions resulting in more persistent unemployment
 .\n
DTSTAMP:20260403T215047Z
DTSTART:20151028T130000Z
DTEND:20151028T140000Z
SEQUENCE:0
TRANSP:OPAQUE
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