The paper studies the effects of mass immigration from the former USSR to Israel in the 1990s on the employment of the native-born. The exogeneity and the size of this inflow make it a "natural experiment'' of macroeconomic proportions. An open-economy model is used to analyze this experience,...

This paper explores the determinants and stochastic properties of hiring at the aggregate, macroeconomic level. At the core of the analysis is a present value relation which defines the worker's "asset value" for the firm and determines optimal hiring. The paper validates this relation using...

This paper studies the life cycle career choices of several cohorts of law school graduates from the University of Michigan. The model assumes that thses graduates act according to the optimal solution of a dynamic optimization problem in which they sequentially choose among five employment sectors.