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wage differences across individuals and industries, and (ii) how the nature of interfirm mobility job-to-job vs. job-unemployment …
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This paper examines wage dispersion and wage dynamics in a stock-flow matching economy with on-the-job search. Under stock-flow matching, job seekers immediately become fully informed about the stock of viable vacancies. If only one option is available, monopsony wages result. With more than one...
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