We analyze agents' decisions to act as producers or intermediaries using equilibrium search theory. Extending previous analyses in various ways, we ask when intermediation emerges and study its efficiency. In one version of the framework, meant to resemble retail, middlemen hold goods, which...

[enter Only 5.5 percent of black males married white females in 1990, and the family-income premium for intermarried black males was 7 percent. This paper estimates the impact of the mating taboo, courting opportunities, and individual endowments on the black male marriage market. Results...

This paper uses a structural approach to examine who matches with whom. A two-sided matching model that allows for marital sorting in response to marriage market flexibility and agents' preferences is utilized. Estimation is based on imbedding the numerical solution of a matching model within a...

We present the first study of the high school-to-work transition for American Millennial males and females. Using data from the PSID Transition to Adulthood from 2005-2011, we estimate two versions of the Burdett and Mortensen (1998) model, one with an exogenous productivity distribution and one...