document: Modeling the labor market as an evolving institution : model ARTEMIS A stylized French labor market is modeled as an endogenously evolving institution . Boundedly rational firms and individuals strive to decrease the cost or increase utility . The labor market is coordinated by a search process and decentralized setting of hiring standards , but intermediaries can speed up matching . The model reproduces the dynamics of the gross flows and spectacular changes in mobility patterns of some demographic groups when the oil crisis in the 1970 's occurred , notably the sudden decline of the integration in good jobs . The internal labor markets of large firms are shown to increase unemployment if the secondary -LRB- temporary or bad -RRB- jobs do not exist
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