Andrews, Martyn J. and Bradley, Steve and Stott, Dave and Upward, Richard (2013) Estimating the stock-flow matching model using micro data. Journal of the European Economic Association, 11 (5). pp. 1153-1177. ISSN 1542-4774
We estimate the stock-flow matching model using micro-level data from a well-defined labor market. Using a dataset of complete labor-market histories for both sides of the market, we estimate hazard functions for job-seekers and vacancies. We find that the stock of new vacancies has a significant positive impact on the job-seeker hazard, over and above that of the total stock of vacancies. There is an even stronger robust result for vacancy hazards. Thus we find evidence in favor of stock-flow matching, even when controlling for unobserved search heterogeneity and stratifying into submarkets defined by location and occupation.
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