Consider a market where producers submit supply functions to a procurement auction — e.g. an electric power auction … — under uncertainty, before demand has been realized. In the Supply Function Equilibrium (SFE), every firm commits to the … equilibria is one basic weakness of SFE. This paper shows that with (i) symmetric producers, (ii) inelastic demand, (iii) a …

current U.S. system substitute for the missing explicit contracts that insure reclassification risk. In particular, a good …

A large share of public funds is spent on private goods (education, health care, day care, etc.). This paper integrates … two different approaches to the analysis of public provision of private goods. While normative public economies has …

training. A non-parametric matching approach is applied to estimate the average program effects. Moreover, the results obtained … by matching are compared to results from standard linear regression and probit models, and a polychotomous selectivity …

the number of unemployed are not very important. Matching frictions are more important for employment during booms than …

sanitation and at recycling nutrients as fertilizer. This human fertilizer may act as a substitute for artificial fertilizers … (improving the household budget) or as a complement (improving soil quality, increasing agricultural yields). We collected … varies over crops. Instead, we find that beneficiary households substitute artificial fertilizer with human fertilizer at 10 …

two-sector general equilibrium model featuring matching frictions, and heterogeneous workers in terms of moral. This …

-sector general equilibrium model featuring matching frictions and worker-firm wage bargaining. Workers are assumed to differ in …

two-sector general equilibrium model featuring matching frictions and worker-firm wage bargaining. Different goods are …

We analyze how firms adjust their labor in response to idiosyncratic shifts in their production function and demand … curves using a unique data-set of Swedish manufacturing firms. We show that permanent shocks to firm-level demand is a main … driving force behind both job and worker reallocation. In contrast, shocks to physical productivity and temporary demand …