This paper analyses the interaction between internal agency problems within firms and external search frictions when workers have private information. We show that the allocation of resources is determined by a modified Hosios Rule. We then analyze the effect of changes in the macro economic variables on the wage contract and the unemployment rate. We find that private information may increase ...

extensible business reporting language (xbrl) is an xml-based open standard, developed specifically for financial reporting. in wider terms, xbrl is a technology by which directed searches and simultaneous presentation of related financial statement facilitate, and also footnote information could potentially help financial statements’ users. the use of search-facilitating technology depletes di...