منابع مشابه
Fairness, Search Frictions, and O¤shoring1
Fairness considerations within the rm are introduced into the determination of wages in a two factor Pissarides-style model of search unemployment to study its implications for the unemployment rates of unskilled and skilled workers in both the closed economy case and when the economy can o¤shore some inputs. While the e¤ect of a fair-wage constraint on unskilled workers takes the form of an i...
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Stable matchings are the primary solution concept for two-sided matching markets with nontransferable utility. We investigate the strategic foundations of stability in a decentralized matching market. Towards this end, we embed the standard marriage markets in a search model with random meetings. We study the limit of steady-state equilibria as exogenous frictions vanish. The main result is tha...
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THE ROYAL SWEDISH ACADEMY OF SCIENCES has as its aim to promote the sciences and strengthen their influence in society.
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We propose a way to measure the contribution of search frictions to the level of wage dispersion observed in the data. Using the data from the 1979 cohort of the National Longitudinal Survey of Youth we find that the variance of match qualities between workers and employers accounts for about 6% of the variance of log wages. Our method relies on a minimal set of assumptions, the main among them...
متن کاملMarket-making with Search and Information Frictions∗
We develop a dynamic model of trading through market-makers that incorporates two canonical sources of illiquidity: trading (or search) frictions and asymmetric information. We show that conventional predictions, derived from models that study either of these frictions in isolation, do not necessarily hold when both frictions are present. These results have important implications for technologi...
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ژورنال
عنوان ژورنال: The B.E. Journal of Economic Analysis & Policy
سال: 2013
ISSN: 1935-1682,2194-6108
DOI: 10.1515/bejeap-2012-0056