Externalities in the matching of workers and firms in Britain |
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| Institution: | 1. State Key Laboratory of Geological Processes and Mineral Resources, China University of Geosciences, Wuhan 430074, China;2. State Key Laboratory of Geological Processes and Mineral Resources, China University of Geosciences, Beijing 100083, China;1. Office of the Comptroller of the Currency, 400 7th Street SW, Washington, DC 20219, United States;2. Department of Economics, Ohio State University, 1945 N. High St, Columbus, OH 43210, United States;3. Department of Liberal Arts and Sciences, Fei Tian College, 1 Ashley Ave., Middletown, NY 10940, United States;2. University of Alabama at Birmingham, Department of Anesthesiology and Perioperative Medicine, Division of Cardiothoracic Anesthesiology, Birmingham, AL;3. University of Tennessee Graduate School of Medicine, Department of Anesthesiology, Section on Cardiothoracic Anesthesiology, Knoxville, TN;4. Vanderbilt University Medical Center, Department of Anesthesiology, Nashville, TN |
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| Abstract: | We provide empirical evidence on the nature of spatial externalities in a matching model for Britain. We use a monthly panel of outflows, unemployment and vacancy stocks data from the registers at Jobcentres in Britain; these are mapped onto travel-to-work areas. We find evidence of significant spill-over effects that are generally in line with the predictions of theory. For example, we find that conditional on local labour market conditions, high unemployment levels in neighbouring areas raise the number of local filled vacancies but lower the local outflow from unemployment. |
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