This study examines the extent to which the transition from university education to work is characterized by persistent hiring flows between university faculties and firms, rather than being characterized by an open market process. Using a specially devised metric, I find that more than one-half...

Business cycles reflect changes over time in the amount of trade between individuals. In this paper we show that incorporating explicitly intra-temporal gains from trade between individuals into a macroeconomic model can provide new insight into the potential mechanisms driving economic...