spatial instability. A simple model of non-sequential search with endogenous search intensity can link this instability to …

derived for fixed levels of both wages and search intensities, where it is shown (without using a free-entry condition) that … there exists a unique equilibrium. It is then shown that if job searchers are allowed to choose their search intensities …

This paper surveys the use of search and matching models in macroeconomics. It outlines the standard model, discusses …

or more of the posted wages, i.e. search, before deciding where to apply. Both with homogeneous and heterogeneous forms …, equilibrium wage dispersion is necessary for the economy to approximate efficiency. Without wage dispersion, workers do not search …, and wages are depressed. As a result: (a) there is excessive entry of firms; and (b) because, in the absence of search …

This paper surveys recent work in equilibrium models of labor markets characterized by search and recruitment frictions …

with search-matching frictions. Job creation entails some fixed costs, but existing jobs are subject to diminishing returns …

This paper presents a model in which firms and workers must engage in costly search to find a production partner. In … this setting the skill, job and wage distributions and their evolutions are endogenized. The presence of search frictions …