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rates are consistent with weakly increasing returns in matching. The resulting equilibrium is not efficient. Unemployment …
Persistent link: https://www.econbiz.de/10011399676
When workers send applications to vacancies they create a network. Frictions arise if workers do not know where other workers apply to (this affects network creation) and firms do not know which candidates other firms consider (this affects network clearing). We show that those frictions and the...
Persistent link: https://www.econbiz.de/10009239488