The paper studies human capital accumulation over workers' careers in an on the job search setting with heterogenous …

prospective students as well as their consequences, drawing upon economic theory and empirical evidence …

unemployment. We show that heterogeneity, reflecting differences in match quality and worker assets, reduces the extent of … fluctuations in separations and unemployment. We find that the model faces a trade-off--it cannot produce both realistic dispersion … in wage growth across workers and realistic cyclical fluctuations in unemployment …

equivalent workers fall sharply as unemployment duration progresses. We use the model to quantitatively assess the consequences … of such employer behavior for job finding rates and long term unemployment and find only modest effects given the large … dependence and long term unemployment …

-insure. Therefore, they search less thoroughly and take more accessible jobs at less productive firms …

In this paper, we present a spatial equilibrium model where search frictions hinder the immediate reallocation of … explore the joint determination of wages, unemployment, house prices and city size (or migration). A key role of the model is …

We study how the level of unemployment insurance (UI) benefits that trades off the consumption smoothing benefit with … the moral hazard cost of distorting job search behavior varies over the business cycle. Empirically, we find that the … moral hazard cost is procyclical, greater when the unemployment rate is relatively low. By contrast, our evidence suggests …