Burgess, Simon; Turon, Helene - School of Economics, Finance and Management, University … - 2005
on-the-job search has a substantial impact on labour market equilibrium, whereby equilibrium unemployment is lower and … exhibits a higher turnover rate. On-the-job search renders the unemployment inflow rate more sensitive to the cycle: in all … more on-the-job search widens the range of viable productivities and leads to lower wages at the bottom of the wage …