all their candidates) only wage mechanisms that allow for ex post Bertrand competition generate the maximum matching on a …

mechanisms that allow for ex post Bertrand competition generate the maximum matching on a realized network. -- efficiency …

labor market states. In steady-state, we hence have a theory of equilibrium unemployment determined by both matching … of large flows between employment, unemployment and inactivity. Secondly, it shows that unemployment and aggregate wages … labor force and rises the share of attached workers. Finally, our theory suggests that contrary to two-state models …