This note explores the persistence properties of a class of models proposed by Jones, Manuelli and Siu (2000) where growth stems from purposeful human capital accumulation. In doing so, we adopt Cogley and Nason's (1995) definition of output persistence. The propagation mechanism exhibited by...

This note explores the persistence properties of a class of models proposed by Jones, Manuelli and Siu (2000) where growth stems from purposeful human capital accumulation. In doing so, we adopt Cogley and Nason's (1995) definition of output persistence. The propagation mechanism exhibited by...

When an household needs to change its home, a new house must be bought and the old one must be sold. In order to complete these two transactions, the household can adopt either a sequential or a simultaneous search strategy. In sequential strategies, it first buys (or sells) and only after tries...

This paper proposes a new explanation of the job quality issue in search and matching models, which is not based on market externalities but on strategic interactions within firms through the intrafirm bargaining process. We develop a matching and intrafirm bargaining model in which large firms...