Using a new body of data, we construct an account of a labor market with on-the-job search where 1. The log-standard deviation of the distribution of wages offered to an individual job-seeker is 0.075, far below the dispersion of wages in the cross section but far above the tiny dispersion that...

How do asymmetric labor market institutions affect the volatility of inflation and unemployment differentials in a currency union? What are the implications for monetary policy? To answer these questions, this paper sets up a DSGE currency union model with unemployment, hiring frictions and real...

This paper provides new evidence on time devoted to job search by the employed in the U.S. I find that search effort decreases with the current wage, with an elasticity between -0.7 and -1.3.

This paper uses a new and exhaustive dataset on the labor market outcomes of roughly 1,400 household heads surveyed through the New York Fed's Survey of Consumer Expectations. We use the data to examine the job search behavior of both employed and nonâ€employed individuals. The data have...

How do labor market institutions affect the volatility and persistence of inflation and unemployment in a monetary union? What are the implications for monetary policy? This paper sets up a DSGE currency union model with unemployment, hiring frictions and real wage rigidities. The model provides...

This paper establishes a new fact about the compositional changes in the pool of unemployed over the U.S. business cycle and evaluates a number of theories that can potentially explain it. Using micro-data from the Current Population Survey for the years 1962-2011, it documents that in...

Purpose – The purpose of this paper is to contribute to the discussion about how to develop a common identity of local stakeholders of places (e.g. politicians, local companies, residents). Such a common identity is regarded as an essential aspect to market a place consistently to external...