A model is presented in which people base their labor search strategy on the average wage and the average unemployment …

This paper constructs a tractable general equilibrium model of search with risk-aversion. An increase in risk …

We review theories of race discrimination in the labor market. Taste-based models can generate wage and unemployment … duration differentials when combined with either random or directed search even when strong prejudice is not widespread, but no … stereotypes have little empirical content. It is plausible that models combining elements of the search models with statistical …

adaptability and thus diminished employment later in life. To test our main hypothesis that any relative labor-market advantage of …

undirected search. A fixed-term contract of length J is modeled as a tax on separations of workers with tenure higher than J …

In this paper we develop a multi-sector general equilibrium model of firm heterogeneity, worker heterogeneity and labor … market frictions. We characterize the distributions of employment, unemployment, wages and income within and between sectors … and income inequality, whereas greater worker heterogeneity has ambiguous effects. We also find that labor market …

Standard search and matching models of equilibrium unemployment, once properly calibrated, can generate only a small … amount of frictional wage dispersion, i.e., wage differentials among ex-ante similar workers induced purely by search … frictions. We derive this result for a specific measure of wage dispersion -- the ratio between the average wage and the lowest …