This paper demonstrates that the standard search and matching models of equilibrium unemployment, once properly calibrated, can generate only a tiny amount of frictional wage dispersion, i.e., wage differentials among ex-ante similar workers induced purely by search frictions. The analysis is centered around a specific measure of wage dispersion— the ratio between the average wage and the lowes...

Many households spend their wealth slowly during retirement, holding much of their wealth into old age. Determining why they do so is made difficult by a fundamental identification problem: retirees’ saving decisions reflect the combined strength of precautionary and bequest motives. Given the substantial medical spending and mortality risks that retirees face, savings are spent primarily on pr...

Ovicides paralithodis sp. n. is described from the egg mass of the red king crab Paralithodes camtschaticus (Tilesius, 1815) from the Sea of Okhotsk, off Hokkaido, Japan, and Alaska, USA. Among four congeners, Ovicides paralithodis can be distinguished from Ovicides julieae Shields, 2001 and Ovicides davidi Shields and Segonzac, 2007 by having no eyes; from Ovicides jonesi Shields and Segonzac,...

A new species of nemertean worm belonging to the genus Carcinonemertes is described from egg masses of the Caribbean spiny lobster Panulirus argus from the Florida Keys, Florida, USA. This is the first species of Carcinonemertes reported to infect P. argus or any other lobster species in the greater Caribbean and western Atlantic Ocean. Carcinonemertes conanobrieni sp. nov. varies in body color...

SHIELDS, J. D., WICKHAM, D. E., and KURIS, A. M. 1989. Carcinonemertes regicides n.sp. (Nemertea), a symbiotic egg predator from the red king crab, Paralithodes camtschatica (Decapoda: Anomura), in Alaska. Can. J. Zool. 67: 923 930. A symbiotic nemertean worm, Carcinonemertes regicides n.sp., found on red king crabs, Paralithodes camtschatica, is described and compared with other members of the...

This paper proposes an aggregative model of total factor productivity (TFP) in the spirit of Houthakker (1955—1956). It considers a frictional labor market where production units are subject to idiosyncratic shocks and jobs are created and destroyed as in Mortensen and Pissarides (1994). An aggregate production function is derived by aggregating across micro production units in equilibrium. The...