It is assumed that observed labor income is the result of three stages across the job search process. From the reservation wage formation, the bargaining between employers and potential employees when the match, and finally a possible additional adjustment once the worker is completely hired....

The article examines the capacity of four medium-sized cities in Southern Europe, concerning the current situation of their assets (agglomeration economies, urban infrastructures, factors of labor and cost, etc.), the degree of development policies implementation and effectiveness by local...

A vast theoretical and empirical literature has focused on the effects of unemployment insurance benefits on the decisions of the recipients and how these decisions influence their labor market outcomes. Three strands of literature are discussed in this paper: (i) the impact of unemployment...

In the summer of 2002, the Swiss National Bank (SNB) hosted the “SNB-Fed Cleveland Workshop on Monetary Economics”. Recent years have seen the development of the search-theoretic approach to monetary theory. It has established itself as an important strand of monetary theory in a very short...

Optimal labor tax results over the cycle are, quantitatively, typically driven by an estimate of the intratemporal elasticity of substitution that governs the reaction of hours worked to business cycle shocks and tax rate changes. A recent literature tries to decompose this intratemporal...

This paper presents a new characterization result for competitive allocations in quasilinear economies. This result is informed by the analysis of non-cooperative dynamic search and bargaining games. Such games provide models of decentralized markets with trading frictions. A central objective...

In this note I discuss the condition for indeterminacy in the context of search models with increasing returns in the matching technology. Building on the theoretical framework set forth by Giammarioli (2003), I argue that increasing returns with respect to vacancies at the aggregate level is...

The purpose of this paper is to extend the Fields’ (1989) multi sector job-search model in a three sector general equilibrium framework by introducing international trade and an input, capital. The three sectors are the rural sector, the urban informal sector and the urban formal sector. The...

This paper analyses the determinants of on-the-job search activities of Italian workers. On-the-job search is a good indicator of labour turnover, overcoming the limitations due to a lack of adequate data about labour turnover. Using several waves of the Bank of Italy Survey on Household Income...