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Cohabitation versus marriage: Marriage matching with peer effects

Mourifie, Ismael; Siow, Aloysius - University of Toronto, Department of Economics - 2015

This paper proposes an easy to estimate Cobb Douglas marriage matching function (MMF). Special cases include the Choo Siow (CS) MMF, CS with peer effects, CS with frictional transfers, the Dagsvik Menzel non-transferable utility MMF and Chiappori, Salanie and Weiss MMF. Given population supplies...

Persistent link: https://www.econbiz.de/10011145630

Self-Promoting Investments

Pitchik, Carolyn - University of Toronto, Department of Economics - 2006

When human capital skills differ in their ability to attract offers from alternative employers, a potential inefficiency in human capital investment arises. If a worker's ability and investments are observed by the labour market only when the worker invests in self-promoting activities, then...

Persistent link: https://www.econbiz.de/10005771686

Carrots and Sticks: Prizes and Punishments in Contests

Moldovanu, Benny; Sela, Aner; Shi, Xianwen - University of Toronto, Department of Economics - 2010

We study optimal contest design in situations where the designer can reward high performance agents with positive prizes and punish low performance agents with negative prizes. We link the optimal prize structure to the curvature of distribution of abilities in the population. In particular, we...

Persistent link: https://www.econbiz.de/10008529178

Meeting Technologies and Optimal Trading Mechanisms in Competitive Search Markets

Lester, Benjamin; Visschers, Ludo; Wolthoff, Ronald - University of Toronto, Department of Economics - 2014

In a market in which sellers compete by posting mechanisms, we allow for a general meeting technology and show that its properties crucially affect the mechanism that sellers select in equilibrium. In general, it is optimal for sellers to post an auction without a reserve price but with a fee,...

Persistent link: https://www.econbiz.de/10011158359

Pricing and Signaling with Frictions

Delacroix, Alain; Shi, Shouyong - University of Toronto, Department of Economics - 2012

We study a large market with directed search and signaling. Each seller chooses an investment that determines the … selling sites. After observing sellers' choices of prices and sites, but not quality, buyers choose which price to search. The … seller's choices of prices and sites can direct buyers' search decisions and signal quality ex-ante. After matching, a buyer …

Persistent link: https://www.econbiz.de/10010897043

Liquidity, Innovation and Growth

Berentsen, Aleksander; Breu, Mariana Rojas; Shi, Shouyong - University of Toronto, Department of Economics - 2012

Many countries simultaneously suffer from high inflation, low growth and poorly developed financial sectors. In this paper, we integrate a microfounded model of money and finance into a model of endogenous growth to examine the effects of inflation on welfare, growth and the size of the...

Persistent link: https://www.econbiz.de/10010897045

Information Externalities and Intermediaries in Frictional Search Markets

Shi, Xianwen; Siow, Aloysius - University of Toronto, Department of Economics - 2013

management enable search intermediaries to internalize information externalities generated in unintermediated private search. …

Persistent link: https://www.econbiz.de/10010850118

A Monetary Theory with Non-degenerate Distributions

Menzio, Guido; Shi, Shouyong; Sun, Hongfei - University of Toronto, Department of Economics - 2013

We construct and analyze a tractable search model of money with a non-degenerate distribution of money holdings …. Analytical tractability comes from modeling decentralized exchange as directed search, which makes the monetary steady state …

Persistent link: https://www.econbiz.de/10010850128

Applications and Interviews: Firms' Recruiting Decisions in a Frictional Labor Market

Wolthoff, Ronald - University of Toronto, Department of Economics - 2014

I develop a directed search model of the labor market in which firms choose a recruiting intensity, determining the …

Persistent link: https://www.econbiz.de/10010960209

Nominal Bonds and Interest Rates: The Case of One-Period Bonds

Shi, Shouyong - University of Toronto, Department of Economics - 2002

This paper is the first step in the integration of the (search-theoretic) microfoundation of monetary theory into the … fruitful analysis by Lucas (1990). I construct two search models, in which fiat money coexists in equilibrium with default …

Persistent link: https://www.econbiz.de/10005572544