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matching function. Wages are determined through Nash bargaining. We also consider aggregate productivity shocks, and a complete …
Persistent link: https://www.econbiz.de/10012463369
We model worker heterogeneity in the rents from being employed in a Diamond-Mortensen-Pissarides model of matching and …
Persistent link: https://www.econbiz.de/10012463483
We define the median stable matching for two-sided matching markets with side payments and prove constructively that it …
Persistent link: https://www.econbiz.de/10012463958
This paper develops tools and techniques to study the impact of exogenous changes in factor supply and factor demand on factor allocation and factor prices in economies with a large number of goods and factors. The main results of our paper characterize sufficient conditions for robust monotone...
Persistent link: https://www.econbiz.de/10012463975
We construct a model of trade with matching frictions. The model provides a simple characterization for the joint …
Persistent link: https://www.econbiz.de/10012464042
Consistent with two models of imperfect competition in the labor market, the efficient bargaining model and the monopsony model, we provide two extensions of a microeconomic version of Hall's framework for estimating price-cost margins. We show that both product and labor market imperfections...
Persistent link: https://www.econbiz.de/10012464671
Shimer's calibrated version of the Mortensen-Pissarides model generates unemployment fluctuates much smaller than the data. Hagedorn and Manovskii present an alternative calibration that yields fluctuations consistent with the data, but this has been challenged by Costain and Reiter, who say it...
Persistent link: https://www.econbiz.de/10012464775
This paper explores information disclosure in matching markets, e.g., the informativeness of transcripts given out by … universities. We show that the same, "benchmark," amount of information is disclosed in essentially all equilibria. We then … demonstrate that if universities disclose the benchmark amount of information, students and employers will not find it profitable …
Persistent link: https://www.econbiz.de/10012464881
Most transplanted kidneys are from cadavers, but there are also substantial numbers of transplants from live donors. Recently, there have started to be kidney exchanges involving two donor-patient pairs such that each donor cannot give a kidney to the intended recipient because of immunological...
Persistent link: https://www.econbiz.de/10012468710
From 1986 through 1997 the entry-level market for American gastroenterologists was organized by a centralized clearinghouse. Before, and since, it has been conducted via a decentralized market in which appointment dates have unraveled to well over a year before the start of employment. The...
Persistent link: https://www.econbiz.de/10012470100