Recent research has emphasized the key importance of the equilibrium allocation of heterogeneous workers into heterogeneous jobs or occupations as a determinant of economic efficiency. Most of the literature on this subject envisions worker (re-)allocation as occurring between employers. Yet,...

The analysis of 85 years of food purchases at the rich, market-oriented Saint-Cyr convent School in the 18th century probes the determinants of consumption, its short-term variations and long-term shifts. Using time-series econometrics, we show that there is no equilibrium relationship between...

We develop a stochastic model of random search on the job, with ex-ante heterogeneous workers and firms and aggregate productivity shocks in which firms make state contingent offers and counter offers to workers. The model delivers rich dynamics in which the distributions of unemployed workers,...

We study the treatment effect of grade retention, using a panel of French junior highschool students, taking unobserved heterogeneity and the endogeneity of grade repetitions into account. We specify a multi-stage model of human-capital accumulation with a finite number of types representing...

We propose a search-matching model of the marriage market that extends Shimer and Smith (2000) to allow for labor supply. We characterize the steady-state equilibrium when exogenous divorce is the only source of risk. The estimated matching probabilities that can be derived from the steady-state...

Infrequency of purchase models are alternatives to those derived from the classical 'utility maximization with binding nonnegativity constraints'scheme for modeling purchases that occur at random dates. An extension of those models is proposed that takes into account additional information about...

<p><p><p>In this paper,we construct a nonparametric estimator of the distributions of latent factors in linear independent multi-factor models under the assumption that factor loadings are known. Our approach allows to estimate the distributions of up to L(L+1)/2 factors given L measurements. The...</p></p></p>

The Nash wage bargaining model is ubiquitous in modern labour economics. Yet most applications of this model ignore inter-employer competition for labour services and attribute all of the workers’ rent to their bargaining power. In this Paper, we write and estimate an equilibrium model with...