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Assuming that job search efficiency decreases with distance to jobs, workers' location in a city depends on spatial elements such as commuting costs and land prices and on labour elements such as wages and the matching technology. In the absence of moving costs, we show that there exists a...
Persistent link: https://www.econbiz.de/10005645386
Unemployment may depend on equilibrium in other markets than the labor markets. Thispaper adresses this old idea by … financial frictions on equilibrium unemployment isamplified by goods market frictions and vice versa.... …
Persistent link: https://www.econbiz.de/10009360514