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Job Creation and Job Destruction in the Theory of Unemployment
Abstract
In this paper we model a job-specific shock process in the matching model of unemployment with non-cooperative wage behaviour. We obtain endogenous job creation and job destruction processes and study their properties. We show that an aggregate shock induces negative correlation between job creation and job destruction whereas a dispersion shock induces positive correlation. The job destruction process is shown to have more volatile dynamics than the job creation process. In simulations we show that an aggregate shock process proxies reasonably well the cyclical behaviour of job creation and job destruction in the United States.
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Cited by
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Rogerson, R., Shimer, R., & Wright, R. (2005) · Journal of Economic Literature · doi:10.1257/002205105775362014 · Cited by 1,051
Toward understanding the impact of artificial intelligence on labor
Frank, M. R., Autor, D., Bessen, J. E., Brynjolfsson, E., Cebrian, M., Deming, D. J., Feldman, M., Groh, M., Lobo, J., Moro, E., et al. (2019) · Proceedings of the National Academy of Sciences · doi:10.1073/pnas.1900949116 · Cited by 713
Do Recessions Accelerate Routine-Biased Technological Change? Evidence from Vacancy Postings
Hershbein, B., & Kahn, L. B. (2018) · American Economic Review · doi:10.1257/aer.20161570 · Cited by 573
Recessions and the Costs of Job Loss
Davis, S. J., & von Wachter, T. (2011) · Brookings Papers on Economic Activity · doi:10.1353/eca.2011.0016 · Cited by 533
Artificial Intelligence and Its Implications for Income Distribution and Unemployment
Korinek, A., & Stiglitz, J. (2017) · doi:10.3386/w24174 · Cited by 380
Metadata
- Authors
- Mortensen, D. T., & Pissarides, C. A.
- Venue
- The Review of Economic Studies
- Publisher
- Oxford University Press (OUP)
- Published
- 1994-07-01
- Volume
- 61
- Issue
- 3
- Pages
- 397-415
- ISSN
- 0034-6527 (ISSN-L)
- 1467-937X
- OpenAlex
- W1804939085
- Cited by
- 3,840
- References
- 0
- FWCI
- 58.74
- Type
- journal article
- Language
- en
- Open access
- closed
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- CoChat. (2026). Citation check: Job Creation and Job Destruction in the Theory of Unemployment. https://app.cochat.ai/papers/10.2307/2297896
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- Mortensen, D. T., & Pissarides, C. A. (1994). Job Creation and Job Destruction in the Theory of Unemployment. The Review of Economic Studies. https://doi.org/10.2307/2297896
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
