Public Sector Wage Policy and Labor Market Equilibrium: A Structural Model
构建并估计了一个包含大型公共部门的劳动力市场结构模型，模拟了不同公共部门工资和就业政策对整体工资分布和就业率的影响，对政策制定者和劳动经济学家有参考价值。
Abstract We develop and estimate a structural model that incorporates a sizeable public sector in a labor market with search frictions. The wage distribution and the employment rate in the public sector are taken as exogenous policy parameters. Overall wage distribution and employment rate are determined within the model, taking into account the private sector’s endogenous response to public sector employment policies. Job turnover is sector specific and transitions between sectors depend on the worker’s decision to accept alternative employment in the same or different sector by comparing the value of employment in the current and prospective jobs. The model is estimated on British data by a method of moments. We use the model to simulate the impact of various counterfactual public sector wage and employment policies.