an endogenously generated wage rigidity, which is of reasonable magnitude given empirical evidence from the U.S. labor …

unemployment rate and the actual unemployment rate in the country, which is a meaningful indicator of their misperception of labor … theory, which has so far focused on labor market frictions in general and not specifically on information asymmetries. Using … model includes: controls for the worker's ability; country-specific fixed effects; the unemployment rate in the region of …

This paper presents a short overview of dynamic models of labor markets with transaction costs. It shows that these … models have deeply renewed the understanding of job search, job flows, job creations and destructions, unemployment and wage … optimal level of unemployment benefits, the funding of unemployment insurance and the impact of employment protection …

density function with higher density and thereby generate large, asymmetric job-finding rate and unemployment reactions. Our …