; strategic substitutability ; wage contracts ; contract duration …

We study the optimal duration of contracts in a principal-agent framework with both moral hazard and adverse selection …. Agents decide on a contract-specific and non-verifiable investment. Incentive compatibility requires that initial contracts …

This paper explores the relationship between the duration of a vacancy and the starting wage of a new job, using … establishment growth, vacancy filling and entry wages, we calibrate a model with directed search and ex-ante heterogeneous workers … response of vacancy filling to firm-level wages. We discuss the implications of this finding as well as potential resolutions. …

negatively-sloped Beveridge curve. Moreover, the model exhibits unemployment duration dependence, which (when calibrated to long …

-restoring earnings tax is genderneutral and fairly flat with respect to marriage duration. The optimal divorce tax is an inverted …-U function of marriage duration, reaches its maximum when children are in their teens, and declines thereafter. We use our …

The term structure of equity returns is downward-sloping: stocks with high cash flow duration earn 1.10% per month … lower returns than short-duration stocks in the cross section. I create a measure of cash flow duration at the firm level … for short-sale constraints, and find the negative cross-sectional relationship between cash flow duration and returns is …