In this work we provide a theoretical overview of a search equilibrium model with continuous
productivity dispersion and perform its estimation for the Austrian data. We describe
empirically the dynamics of market equilibrium outcomes. Special emphasis is made on the
analysis of changes in labour mobility and dependence of expected job durations on offered
wages. We investigate the influence of excessive labour mobility on the equilibrium profits of
firms. Facing a problem of top-coded wage data, we suggest an appropriate adjustment of
the existing estimation methodology. Finally, we extend the econometric model for the
observed heterogeneity of agents.
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