We analyse a model of equilibrium directed search in a large labour market. Each worker, observing the wages posted at all vacancies, makes a fixed, finite number of applications, a. We allow for the possibility of ex post competition should more than one vacancy want to hire the same worker....

We show that in a search/matching model with endogenous participation in which workers are heterogeneous with respect to market productivity, satisfying the Hosios rule leads to excessive vacancy creation. The reason is that the marginal worker does not internalize the effect of his or her...

Stellenbesetzungsprozesse am Arbeitsmarkt können völlig unterschiedlich verlaufen und sich als mehr oder weniger zeitintensiv herausstellen. Oft verstreichen geplante Einstellungstermine, ohne dass die betreffende Stelle besetzt ist. Stellen werden dann verzögert besetzt, manchmal wird die...

This paper studies hours, employment, vacancies and unemployment at micro and macro levels. It is built around a set of facts concerning the variability of unemployment and vacancies in the aggregate and, at the establishment level, the distribution of net employment growth and the comovement of...