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The temporal dimension in search models : horizon, age, experience

Abstract : In economics, it is today usual to use search models to modelize labor market, and assess public policy on this market. In this thesis, we introduce the age heterogeneity of workers in a search model which takes into account both labor market flows and endogenous wage distribution. We show that this heterogeneity affects greatly agents' economic behaviors in terms of wage setting, search intensity, and matches' productivity, by its two dimensions, the workers' experience and the workers' horizon. This model allows us to decompose the wage trajectory of workers over their life cycle into three main channels : the wage game, the human capital accumulation and the presence of institutions. Besides, we show that this last channel, as composed of unemployment benefits indexed on workers' last wage, accounts for the simultaneous strong wage progression and weak workers' mobility observed in the French data. Yet, the horizon can also be technological : firms' embodied technology becomes obsolete with time. Given this technological horizon, the presence of tenure-growing unemployement benefits yields a distorsion which fastens obsolescence. In this context, only a tenure-growing firing tax allows the economy to reach its social optimum.
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Sarah Le Duigou. The temporal dimension in search models : horizon, age, experience. Economics and Finance. Université du Maine, 2012. English. ⟨NNT : 2012LEMA2004⟩. ⟨tel-00770305⟩

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