Showing 1 - 10 of 27,998
macroeconomics, and in particular in the analysis of labour markets. Within search theory his main contributions have been in … integrating search theory into models of economic equilibrium and in examining its implications for efficiency and labour market …
Persistent link: https://www.econbiz.de/10009364192
is inefficient relative to the constrained Pareto allocation. Our theory encompasses the outcomes of the random matching …We present a theory of targeted search, where people with a finite information processing capacity search for a match …. Our theory explicitly accounts for both the quantity and the quality of matches. It delivers a unique equilibrium that …
Persistent link: https://www.econbiz.de/10010772616
is inefficient relative to the constrained Pareto allocation. Our theory encompasses the outcomes of the random matching …We present a theory of targeted search, where people with a finite information processing capacity search for a match …. Our theory explicitly accounts for both the quantity and the quality of matches. It delivers a unique equilibrium that …
Persistent link: https://www.econbiz.de/10010951612
determination. Our theory sheds new light on how unemployment can affect workers' labor market outcomes and wage determination … unemployment durations are likely to be followed by lower re-employment wages because a worker's beliefs about his job …
Persistent link: https://www.econbiz.de/10008458480
mechanisms that allow for ex post Bertrand competition generate the maximum matching on a realized network. …When workers send applications to vacancies they create a network. Frictions arise because workers typically do not … friction affects network formation, while the second coordination friction affects network clearing. We show that those …
Persistent link: https://www.econbiz.de/10009201125
When workers send applications to vacancies they create a network. Frictions arise if workers do not know where other … workers apply to (this affects network creation) and firms do not know which candidates other firms consider (this affects … network clearing). We show that those frictions and the wage mechanism are in general not independent. Equilibria that exhibit …
Persistent link: https://www.econbiz.de/10009246606
allow for ex post Bertrand competition generate the maximum matching on arealized network. …When workers send applications to vacancies they create a network. Frictionsarise because workers typically do not know … frictionaffects network formation, while the second coordination friction affects networkclearing. We show that those frictions and …
Persistent link: https://www.econbiz.de/10011256115
We explore the role of real wage dynamics in a New Keynesian business cycle model with search and matching frictions in … necessarily move with real wages. …
Persistent link: https://www.econbiz.de/10011091590
the number of unemployed are not very important. Matching frictions are more important for employment during booms than …
Persistent link: https://www.econbiz.de/10010699694
obtain a novel empirical result: when a given firm grows faster it hires workers with higher past wages. These results … suggest that productive, fast-growing firms tend to hire more productive workers, a form of positive assortative matching …. Despite this richness the model is tractable, allowing me to characterize assortative matching, compositional dynamics and …
Persistent link: https://www.econbiz.de/10010859491