Housing markets clear, in part, through the time that buyers and sellers spend on the market. We show that demand … the elasticity of the matching function. …

This article reviews the developments in frictional matching models from 1990 to 2010, exploring how search frictions … different attacks on the existence of equilibrium required for these search and matching models. …

A dynamic equilibrium model of an economy with underground trade is developed in which agents devote effort to search …

This paper explores the efficiency of decentralized search behavior and matching patterns in a model with ex ante … heterogeneity and a constant returns to scale search technology. We show that a linear tax or subsidy on search intensity … decentralizes the social optimum. In the absence of the tax, high productivity agents are too willing to match, yet they search too …

As long as workers do not value their leisure much, the Mortensen-Pissarides search and matching model implies that …

who suffer involuntary layoffs. Matching and search-island models have labour market frictions and incomplete markets. The …

The Paper examines the time sequencing of UI benefits in a general equilibrium framework, with random matching and … endogenously determined wages. A key feature of the model is that policymakers exploit random matching to produce some assortative … matching through UI policy. The Paper considers a mechanism whereby a declining UI time profile makes unemployed workers …