Financial frictions are known to raise the volatility of economies to shocks (e.g. Bernanke andGertler 1989). We follow … this line of research to the labor literature concerned by the volatility of labor market outcomes to productivity shocks … are a good candidate to solve the volatility puzzle and rejoin Pissarides (2009) in arguing that hiring costs must be …

of labor migration, only a handful discusses asymmetric information across transnational labor markets despite agreement … this phenomenon based on asymmetric information in the host country labor market. We focus on the design of a contract menu …

information about worker ability as the incumbent firm. I develop a model of asymmetric learning that nests the symmetric learning … find strong support for asymmetric information.I first exploit the fact that groups of workers differ in their variances in … interest in my model representing the degree to which information is asymmetric. My estimates imply that in one period, outside …

Wage determination under asymmetric information generates inefficiencies due to excess turnover. Severance pay and … taxes in the case where the relevant private information is exponentially distributed …

worker moral hazard only makes the "unemployment volatility puzzle" worse. However, moral hazard has potential to explain …