This paper explores environments in which either the revelation or diffusion of information, or its incorporation into stock prices, is gradual, and develops appropriate estimation techniques. This paper has implications both for event study met hodology and for understanding the process by...

This paper offers a model of the interaction between composition of jobs and labor market regulation. Ex post rent-sharing due to search frictions implies that "good" jobs which have higher creation costs must pay higher wages. This wage differential distorts the composition of jobs, and in the...