-looking hiring and labor supply decisions, efficiency entails both static and intertemporal margins. We develop welfare …-finding rates, in line with empirical evidence. We show analytically in a simplified version of the model that volatility arises …

non-Ramsey decentralized equilibrium, labor market volatility is inefficient. Keeping fixed the structural parameters, the … Ramsey government achieves efficient labor market volatility; doing so requires labor-income tax volatility that is orders of … to understand optimal tax volatility. …

The value of land in the balance sheet of French firms correlates positively with their hiring and investment flows. To … land price shocks give rise to significant amplification and hump-shaped responses of investment, vacancies and …

vanished, (ii) the relative volatility of employment has risen, and (iii) the relative (and absolute) volatility of the real … observed decline in output volatility. …

non-Ramsey decentralized equilibrium, labor market volatility is inefficient. Keeping fixed the structural parameters, the … Ramsey government achieves efficient labor market volatility; doing so requires labor-income tax volatility that is orders of … order to understand optimal tax volatility. …

The value of land in the balance sheet of French firms correlates positively with their hiring and investment flows. To … land price shocks give rise to significant amplification and hump-shaped responses of investment, vacancies and …

. Indeterminacy disappears completely when vacancy posting costs are replaced with hiring costs. …

The value of land in the balance sheet of French firms correlates positively with their hiring and investment flows. To … land price shocks give rise to significant amplification and hump-shaped responses of investment, vacancies and …

The value of land in the balance sheet of French firms correlates positively with their hiring and investment flows. To … land price shocks give rise to significant amplification and hump-shaped responses of investment, vacancies and …

selection with micro-level data on training costs, efficient fluctuations feature highly volatile unemployment and hiring rates …, in line with empirical evidence. We show analytically in a partial equilibrium version of the model that volatility …