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Housing and labor markets exhibit many similarities. First, information is imperfect. Tenant quality, like worker quality, is unobserved. Second, separation is costly and time consuming. The laws and regulation typically complicate or slow down the termination process of the contractual...

A model is developed that allows for interaction between the labor market and the housing market. A job location has an associated commuting time that may affect the job acceptance decision. Obstacles to mobility, such as regulations in the housing market will affect the reservation strategy of...

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There is more resistance to layoffs in continental Europe than in the U.S. At the same time, there is some evidence that employed European workers are more productive than their American counterparts. We reconcile these two facts by proposing that some institutions, such as Employment Protection...

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A large part of group differences in wages comes from unobserved or unverifiable characteristics such as the intensity of human capital investments on-the-job. This is notably the classical argument to account for gender differentials.We build a framework in which training decisions are...

Credit market imperfections influence the labor market and aggregate economic activity. In turn, macroeconomic factors have an impact on the credit sector. To assess these effects in a tractable general-equilibrium framework, we introduce endogenous search frictions, in the spirit of Peter...

The sustainability of Welfare States requires high employment/high participation to raise the tax base and avoid distortions. To analyse labour market participation decisions in a world with market frictions, we propose and solve a three-state macro model of the labour market. We show that...