numerical values for equilibrium unemployment and wage dispersion. The theory makes the novel prediction that wage dispersion is …We present a competing-auction theory of the labor market, where job candidates auction their labor services to … employers. An equilibrium matching function emerges which has many of the features commonly assumed, including constant returns …

and by the need to reallocate workers across productive activities. The duration of unemployment and jobs and wage … policies on wages and unemployment. …

This paper offers an alternative theory for the increase in unemployment and wage inequality experienced in the United … change increases skilled wages, reduces unskilled wages and increases the unemployment rate of both skilled and unskilled … implication which distinguishes this theory from others is derived and some evidence in support of this implication is provided. …

employment and wage distribution under a frictional setting. I??review new developments in search theory and discuss the … theoretical results are mixed. There is no unique connection between unemployment and minimum wages, and the effect can be … generally leads to an increase in unemployment as well. In this case, a social planner faces a trade off between redistribution …

employment and wage distribution under a frictional setting. I??review new developments in search theory and discuss the … theoretical results are mixed. There is no unique connection between unemployment and minimum wages, and the effect can be … generally leads to an increase in unemployment as well. In this case, a social planner faces a trade off between redistribution …

setting. I review new developments in search theory and discuss the influence of minimum wages on wages and employment under … heterogenous case theoretical results are mixed. There is no unique connection between unemployment and minimum wages, and the … market, seem to support the hypothesis that an increase in the minimum wage generally leads to an increase in unemployment as …

This paper offers an alternative theory for the increase in unemployment and wage inequality experienced in the U …

Most theories of involuntary unemployment predict that the equilibrium wage in the labor market will be greater than … unemployment. …

The labor search and matching model plays a growing role in macroeconomic analysis. This paper provides a critical …, selective survey of the literature. Four fundamental questions are explored: how are unemployment, job vacancies, and employment …