We construct a simple equilibrium search model in which workers accumulate information about previously met employment contacts. We term the latter search capital. Here search capital (partially) insures workers against adverse shocks. The model provides a theory of job-to-job transitions that...

This paper assesses the trade-off between acquiring specialized skills targeted for a particular occupation and acquiring a package of skills that diversifies risk across occupations. Individual-level data on college credits across subjects and labor-market dynamics reveal that diversification...

The context of competition -- Game theory and gaming -- Measurement and modeling -- One-period markets -- Endogenizing the monetary system -- The economy : time, size and complexity -- Building theories of economic process -- Uncertainty and velocity -- Preamble -- Innovation and evolution :...