while considered as extremely large in the public debate in Europe. The main argument is based on a fundamental property of …. Two sets of implications are then derived: on one hand, mobility costs are high in Europe and transitions between steady …-states has especially strong adverse effects. Jobs endogenously last longer in Europe than in the US, but when they are destroyed …

We show that equilibrium matching models imply that standard estimates of the matching function elasticities are … basic version of the matching function using aggregate U.S. data from the Job Openings and Labor Turnover Survey (JOLTS …) suggests that the bias is quantitatively important. -- matching function estimation ; unemployment ; vacancies ; job finding …

trends in empirical matching functions. We investigate whether these trends simply arise from omitted variable bias … variable bias. As suggested by this result, we present evidence that empirical matching functions can be interpreted as … versions of the law of motion for vacancies: the coefficients in matching functions coincide with the coefficients in the law …

This paper presents a theory explaining the labor market matching process through microeconomic incentives. There are … quit decisions. This approach obviates the need for a matching function. On this theoretical basis, we argue that the … matching function is vulnerable to the Lucas critique. Our calibrated model for the U.S. economy can account for important …

This paper develops a Walrasian equilibrium theory of establishment level dynamics and matching frictions and uses it …"This paper develops a Walrasian equilibrium theory of establishment level dynamics and matching frictions and uses it … to evaluate the effects of congestion externalities in the matching process and determine the government interventions …

This paper presents a theory explaining the labor market matching process through microeconomic incentives. There are … quit decisions. This approach obviates the need for a matching function. On this theoretical basis, we argue that the … matching function is vulnerable to the Lucas critique. Our calibrated model for the U.S. economy can account for important …

In this paper, we present a matching model with adverse selection that explains why flows into and out of unemployment … are much lower in Europe compared to North America, while employment-to-employment flows are similar in the two continents …, who are more likely to turn out to be "lemons". We use microdata for Spain and the U.S. and find that the ratio of the job …