منابع مشابه
Some Results on Equilibrium Distributions
The equilibrium distributions have many applications in reliability theory, stochastic orderings and random processes. The purpose of this paper is to introduce the equilibrium distributions and presents some results related to this issue. Some results are based on order statistics. In this paper, the generalized Pareto distributions are also analyzed and some basic relationships between t...
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In this study we consider a labor market matching model where firms post wagetenure contracts and workers, both employed and unemployed, search for new job opportunities. Given workers are risk averse, we establish there is a unique equilibrium in the environment considered. Although firms in the market make different offers in equilibrium, all post a wage-tenure contract that implies a worker’...
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We examine theoretically and empirically the properties of the equilibrium wage function and its implications for policy. Our emphasis is on how the researcher approaches economic and policy questions when there is labor market heterogeneity leading to a set of wages. We focus on the application where hedonic models have been most successful at clarifying policy relevant outcomes and policy eff...
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Following a recession, the aggregate labor market is slack–employment remains below normal and recruiting efforts of employers, as measured by help-wanted advertising and vacancies, are low. A model of matching friction explains the qualitative responses of the labor market to adverse shocks, but requires implausibly large shocks to account for the magnitude of observed fluctuations. The incorp...
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We examine how much of the observed wage dispersion among similar workers can be explained as a consequence of a lack of coordination among employers. To do this, we construct a directed search model with homogenous workers but where firms can create either good or bad jobs, aimed at either employed or unemployed workers. Workers in our model can also sell their labor to the highest bidder. The...
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ژورنال
عنوان ژورنال: The Economic Journal
سال: 1985
ISSN: 0013-0133
DOI: 10.2307/2233029