We analyze the impact of information frictions on workers' wages, contributing to the literature that tested search theory, which has so far focused on labor market frictions in general and not specifically on information asymmetries. Using data for 16 countries from the European Social Survey...

We argue that the arrival of immigrants with low reservation wages can strengthen the monopsony power of firms. Firms can exploit "cheap" migrant labor by offering lower wages, though at the cost of forgoing potential native hires who demand higher wages. This monopsonistic trade-off can lead to...

We analyze the impact of information frictions on workers' wages, contributing to the literature that tested search theory, which has so far focused on labor market frictions in general and not specifically on information asymmetries. Using data for 16 countries from the European Social Survey...

The study replicates the first European field experiment on gay men's labor market prospects in Greece. Utilizing the same protocol as the original study in 2006-2007, two follow-up field experiments took place in 2013-2014 and 2018-2019. The study estimated that gay men experienced occupational...

The study replicates the first European field experiment on gay men's labor market prospects in Greece. Utilizing the same protocol as the original study in 2006-2007, two follow-up field experiments took place in 2013-2014 and 2018-2019. The study estimated that gay men experienced occupational...

This paper analyses the emergence of the informal economy in the environment characterised by non-competitive labour markets with wage bargaining. We develop a simple extension of the standard search model à la Pissarides (2000) with formal and informal sectors to show how a government's...

Using linked employer-employee data which covers the majority of U.S. employment, I examine how frictions in the labor market have evolved over time. I estimate that the labor supply elasticity to the firm declined by approximately 0.19 log points (1.20 to 1.01) since the late 1990's, with the...

Using linked employer-employee data which covers the majority of U.S. employment, I examine how frictions in the labor market have evolved over time. I estimate that the labor supply elasticity to the firm declined by approximately 0.19 log points (1.20 to 1.01) since the late 1990's, with the...

Labor market tightness following the height of the Covid-19 pandemic led to an unexpected compression in the US wage distribution that reflects, in part, an increase in labor market competition. Rapid relative wage growth at the bottom of the distribution reduced the college wage premium and...

This work suggests a development of the seminal model of transition from lan to market economy by Aghion and Blanchard (1994). We introduce an informal sector to show that its presence can generate qualitatively different steady states, to which the economy converges in the end of transition....